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 ProFrac Holding, a filing with the SEC revealed that on Friday, Chief Executive Officer Johnathan Ladd Wilks bought 12,000 shares of ACDC, at a cost of $12.65 each, for a total investment of $151,800. So far Wilks is in the green, up about 9.2% on their buy based on today's trading high of $13.81. ProFrac Holding is trading down about 3.6% on the day Tuesday.
And at Akamai Technologies, there was insider buying on Friday, by Chief Executive Officer F. Thomson Leighton who purchased 976 shares for a cost of $76.96 each, for a trade totaling $75,116. Before this latest buy, Leighton purchased AKAM on 31 other occasions during the past twelve months, for a total cost of $1.70M at an average of $81.56 per share. Akamai Technologies is trading off about 0.4% on the day Tuesday. So far Leighton is in the green, up about 1.3% on their buy based on today's trading high of $77.99.
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