Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At ACV Auctions, a filing with the SEC revealed that on Monday, Robert P. Goodman bought 912,408 shares of ACVA, at a cost of $5.61 each, for a total investment of $5.12M. Goodman was up about 10.8% on the purchase at the high point of today's trading session, with ACVA trading as high as $6.22 in trading on Thursday. ACV Auctions is trading up about 10.7% on the day Thursday. This purchase marks the first one filed by Goodman in the past twelve months.
And also on Monday, CEO & President Dennis Woodside bought $1.99M worth of Freshworks, buying 176,100 shares at a cost of $11.31 a piece. This purchase marks the first one filed by Woodside in the past year. Freshworks is trading up about 4.8% on the day Thursday. So far Woodside is in the green, up about 8.2% on their purchase based on today's trading high of $12.24.
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