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 Wednesday, FedEx Corp (NYSE:FDX)'s Director, David P. Steiner, made a $1.14M purchase of FDX, buying 7,000 shares at a cost of $162.92 each. FedEx Corp is trading down about 0.9% on the day Monday. This purchase marks the first one filed by Steiner in the past twelve months.
And at eBay (NASDAQ:EBAY), there was insider buying on Wednesday, by Director Robert Holmes Swan who purchased 17,787 shares at a cost of $28.21 each, for a total investment of $501,766. This buy marks the first one filed by Swan in the past year. eBay is trading up about 0.1% on the day Monday. Swan was up about 3.5% on the purchase at the high point of today's trading session, with EBAY trading as high as $29.20 at last check today.
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