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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Monday, Frequency Therapeutics (FREQ)'s Director, Marc A. Cohen, made a $249,998 buy of FREQ, purchasing 17,857 shares at a cost of $14.00 a piece. Bargain hunters can grab FREQ at a price even lower than Cohen did, with shares changing hands as low as $13.50 in trading on Wednesday — that's 3.6% under Cohen's purchase price. Frequency Therapeutics is trading down about 1.6% on the day Wednesday.
And at Amazon.com (NASDAQ:AMZN), there was insider buying on Friday, by Director Indra K. Nooyi who bought 100 shares for a cost of $1726.06 each, for a total investment of $172,606. This purchase marks the first one filed by Nooyi in the past year. Amazon.com is trading up about 0.9% on the day Wednesday. So far Nooyi is down about 0.7% on the buy, with shares trading as low as $1714.36 at last check today.
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