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.
On Thursday, Coinbase Global's Director, Tobias Lutke, made a $382,153 buy of COIN, purchasing 3,930 shares at a cost of $97.24 a piece. Investors have the opportunity to snag COIN even cheaper than Lutke did, with the stock changing hands as low as $84.24 at last check today -- that's 13.4% below Lutke's purchase price. Coinbase Global is trading off about 1.3% on the day Tuesday.
And at Upland Software, there was insider buying on Friday, by CEO John T. McDonald who purchased 20,000 shares for a cost of $11.31 each, for a trade totaling $226,200. This buy marks the first one filed by McDonald in the past twelve months. Upland Software is trading up about 5% on the day Tuesday. So far McDonald is in the green, up about 5.6% on their purchase based on today's trading high of $11.94.
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