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 Atlassian, a filing with the SEC revealed that on Wednesday, Scott Belsky bought 1,566 shares of TEAM, for a cost of $153.10 each, for a total investment of $239,752. Investors have the opportunity to buy TEAM even cheaper than Belsky did, with shares trading as low as $149.21 at last check today which is 2.5% below Belsky's purchase price. Atlassian is trading up about 0.2% on the day Friday. Before this latest buy, Belsky made one other purchase in the past year, buying $251,715 shares for a cost of $173.00 each.
And at Sportsman's Warehouse Holdings, there was insider buying on Thursday, by Richard D. McBee who purchased 25,000 shares for a cost of $2.47 each, for a trade totaling $61,750. Before this latest buy, McBee made one other buy in the past twelve months, purchasing $201,000 shares for a cost of $2.68 a piece. Sportsman's Warehouse Holdings is trading up about 13.7% on the day Friday. McBee was up about 18.6% on the buy at the high point of today's trading session, with SPWH trading as high as $2.93 in trading on Friday.
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