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 Thursday, JPMorgan Chase & Co (NYSE:JPM)'s Director, Mellody L. Hobson, made a $2.00M purchase of JPM, buying 18,200 shares at a cost of $109.91 a piece. So far Hobson is down about 0.8% on the purchase, with shares trading as low as $109.03 at last check today. JPMorgan Chase & Co is trading down about 0.5% on the day Friday. Before this latest buy, Hobson bought JPM on 3 other occasions during the past twelve months, for a total cost of $2.32M at an average of $111.17 per share.
And at 2U (NASDAQ:TWOU), there was insider buying on Wednesday, by Director Gregory K. Peters who purchased 72,358 shares at a cost of $13.95 each, for a trade totaling $1.01M. Before this latest buy, Peters purchased TWOU on 2 other occasions during the past year, for a total investment of $1.00M at an average of $45.01 per share. 2U is trading up about 2.8% on the day Friday. So far Peters is in the green, up about 7.0% on their purchase based on today's trading high of $14.92.
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