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 Broadcom, a filing with the SEC revealed that on Wednesday, Director Harry L. You bought 3,550 shares of AVGO, for a cost of $345.88 each, for a total investment of $1.23M. So far You is in the green, up about 8.2% on their purchase based on today's trading high of $374.23. Broadcom is trading off about 2% on the day Thursday. This buy marks the first one filed by You in the past twelve months.
And at Salesforce, there was insider buying on Wednesday, by Director David Blair Kirk who purchased 3,400 shares at a cost of $254.66 each, for a total investment of $865,827. This buy marks the first one filed by Kirk in the past year. Salesforce is trading up about 1.6% on the day Thursday. Bargain hunters can grab CRM at a price even lower than Kirk did, with shares changing hands as low as $243.50 at last check today -- that's 4.4% under Kirk's purchase price.
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