As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy — they expect to make money. So let's look at two noteworthy recent insider buys.
At Portola Pharmaceuticals (PTLA), a filing with the SEC revealed that on Thursday, Director Jeffrey W. Bird purchased 390,000 shares of PTLA, at a cost of $25.84 each, for a total investment of $10.08M. So far Bird is in the green, up about 5.9% on their buy based on today's trading high of $27.36. Portola Pharmaceuticals is trading up about 5.4% on the day Friday. This purchase marks the first one filed by Bird in the past twelve months.
And at TD Ameritrade Holding Corporation (NYSE:AMTD), there was insider buying on Tuesday, by EVP, Retail Distribution Peter J. Desilva who bought 5,000 shares for a cost of $56.73 each, for a total investment of $283,650. TD Ameritrade Holding Corporation is trading up about 0.6% on the day Friday. So far Desilva is in the green, up about 1.3% on their purchase based on today's trading high of $57.49.
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