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 Upstart Holdings, a filing with the SEC revealed that on Wednesday, Chief Executive Officer Paul Gu purchased 50,000 shares of UPST, at a cost of $27.50 each, for a total investment of $1.38M. Upstart Holdings is trading up about 6.6% on the day Thursday. Before this latest buy, Gu made one other buy in the past twelve months, purchasing $3.92M shares for a cost of $39.23 each.
And on Tuesday, Director George A. Borba Jr. purchased $999,987 worth of CVB Financial, purchasing 50,242 shares at a cost of $19.90 a piece. Before this latest buy, Borba Jr. bought CVBF on 2 other occasions during the past year, for a total investment of $1.5M at an average of $18.60 per share. CVB Financial is trading up about 1.8% on the day Thursday.
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