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 Salesforce.com (NYSE:CRM), a filing with the SEC revealed that on Tuesday, Director Susan Wojcicki purchased 6,000 shares of CRM, for a cost of $146.38 each, for a total investment of $878,272. Salesforce.com is trading down about 0.7% on the day Wednesday. Before this latest buy, Wojcicki purchased CRM on 7 other occasions during the past year, for a total cost of $5.34M at an average of $127.14 per share.
And on Friday, Director H. Brian Thompson purchased $679,280 worth of GTT Communications (NYSE:GTT), purchasing 20,000 shares at a cost of $33.96 each. Before this latest buy, Thompson made one other purchase in the past twelve months, buying $168,405 shares for a cost of $52.63 a piece. GTT Communications is trading off about 0.8% on the day Wednesday. So far Thompson is in the green, up about 7.8% on their buy based on today's trading high of $36.62.
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