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 Fastenal, a filing with the SEC revealed that on Tuesday, EXECUTIVE VICE-PRESIDENT Jeffery Michael Watts purchased 5,940 shares of FAST, for a cost of $50.58 each, for a total investment of $300,433. Watts was up about 2.7% on the purchase at the high point of today's trading session, with FAST trading as high as $51.95 in trading on Thursday. Fastenal is trading up about 0.1% on the day Thursday.
And on Wednesday, CHIEF OPERATING OFFICER Kathy P. Vrabeck purchased $175,250 worth of Beachbody, purchasing 250,000 shares at a cost of $0.70 each. Before this latest buy, Vrabeck made one other buy in the past twelve months, purchasing $499,987 shares at a cost of $1.07 each. Beachbody is trading trading flat on the day Thursday.
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