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 Pebblebrook Hotel Trust, a filing with the SEC revealed that on Monday, CEO Jon E. Bortz bought 53,000 shares of PEB, at a cost of $10.27 each, for a total investment of $544,330. Bortz was up about 4.7% on the purchase at the high point of today's trading session, with PEB trading as high as $10.76 in trading on Tuesday. Pebblebrook Hotel Trust is trading off about 0.1% on the day Tuesday. Before this latest buy, Bortz purchased PEB on 8 other occasions during the past twelve months, for a total investment of $2.79M at an average of $12.59 per share.
And at Autodesk, there was insider buying on Friday, by Director John T. Cahill who purchased 2,000 shares for a cost of $267.10 each, for a total investment of $534,194. Autodesk is trading up about 1.2% on the day Tuesday. So far Cahill is in the green, up about 2.2% on their purchase based on today's trading high of $273.07.
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