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.
On Thursday, Black Stone Minerals' CEO and Chairman, Thomas L. Carter Jr., made a $838,874 purchase of BSM, buying 48,492 shares at a cost of $17.30 each. Black Stone Minerals LP is trading up about 2.1% on the day Friday. Before this latest buy, Carter Jr. bought BSM on 4 other occasions during the past year, for a total investment of $3.34M at an average of $16.71 per share.
And on Tuesday, Director Tobias Lutke purchased $742,514 worth of Coinbase Global, purchasing 16,747 shares at a cost of $44.34 each. Before this latest buy, Lutke purchased COIN on 16 other occasions during the past twelve months, for a total investment of $5.98M at an average of $66.12 per share. Coinbase Global is trading down about 3% on the day Friday. Investors can snag COIN at a price even lower than Lutke did, with the stock trading as low as $40.89 in trading on Friday -- that's 7.8% under Lutke's purchase price.
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