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.
At Chewy, a filing with the SEC revealed that on Tuesday, Director James A. Star bought 32,278 shares of CHWY, for a cost of $55.58 each, for a total investment of $1.79M. Star was up about 6.1% on the buy at the high point of today's trading session, with CHWY trading as high as $58.95 at last check today. Chewy is trading up about 5.7% on the day Thursday.
And on Monday, Antony C. Ball bought $1.29M worth of Net 1 UEPS Technologies, buying 258,830 shares at a cost of $4.99 each. Before this latest buy, Ball bought UEPS at 2 other times during the past twelve months, for a total cost of $330,952 at an average of $4.60 per share. Net 1 UEPS Technologies is trading off about 1.1% on the day Thursday. Ball was up about 11.9% on the buy at the high point of today's trading session, with UEPS trading as high as $5.58 at last check today.
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