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 ThredUp, a filing with the SEC revealed that on Wednesday, Director Daniel J. Nova bought 65,000 shares of TDUP, at a cost of $8.04 each, for a total investment of $522,301. ThredUp is trading up about 1.1% on the day Thursday. Before this latest buy, Nova bought TDUP on 8 other occasions during the past year, for a total investment of $382,575 at an average of $1.26 per share.
And on Tuesday, Director Robert Edward Moritz Jr. purchased $500,266 worth of Northern Trust, purchasing 3,891 shares at a cost of $128.57 a piece. Before this latest buy, Moritz Jr. bought NTRS at 3 other times during the past year, for a total investment of $76,803 at an average of $120.38 per share. Northern Trust Corp is trading off about 0.8% on the day Thursday.
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