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.
On Friday, Bloom Energy Corporation (NYSE:BE)'s Director, L. John Doerr, made a $20M buy of BE, purchasing 1,333,333 shares at a cost of $15.00 a piece. So far Doerr is in the green, up about 57.8% on their buy based on today's trading high of $23.67. Bloom Energy Corporation is trading up about 0.2% on the day Wednesday. This buy marks the first one filed by Doerr in the past year.
And on Monday, Director Stephen P. Zelnak Jr. purchased $710,045 worth of Martin Marietta Materials (NYSE:MLM), purchasing 3,500 shares at a cost of $202.87 each. Martin Marietta Materials is trading up about 0.8% on the day Wednesday. Investors are able to snag MLM even cheaper than Zelnak Jr. did, with the stock changing hands as low as $199.17 at last check today which is 1.8% under Zelnak Jr.'s purchase price.
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