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.
On Wednesday, Bakkt's Director, Michael Alfred, made a $2.17M purchase of BKKT, buying 280,000 shares at a cost of $7.75 each. Alfred was up about 21.2% on the purchase at the high point of today's trading session, with BKKT trading as high as $9.40 at last check today. Bakkt is trading up about 3.6% on the day Friday. Before this latest buy, Alfred made one other buy in the past twelve months, purchasing $4.85M shares at a cost of $8.29 each.
And on Thursday, Director Seth H. Waugh bought $498,218 worth of Yext, buying 133,000 shares at a cost of $3.75 each. This purchase marks the first one filed by Waugh in the past twelve months. Yext is trading up about 6.2% on the day Friday. Waugh was up about 9.7% on the purchase at the high point of today's trading session, with YEXT trading as high as $4.11 at last check today.
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