Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At General Electric (NYSE:GE), a filing with the SEC revealed that on Tuesday, Director H. Lawrence Culp Jr. bought 191,000 shares of GE, at a cost of $13.04 each, for a total investment of $2.49M. So far Culp Jr. is in the green, up about 1.8% on their buy based on today's trading high of $13.27. General Electric is trading up about 0.4% on the day Thursday.
And at Salesforce.com (NYSE:CRM), there was insider buying on Wednesday, by Director Susan Wojcicki who purchased 6,000 shares for a cost of $146.22 each, for a total investment of $877,295. Before this latest buy, Wojcicki bought CRM at 6 other times during the past year, for a total investment of $4.46M at an average of $123.96 per share. Salesforce.com is trading off about 1% on the day Thursday.
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