Friday 2/23 Insider Buying Report: EXEL, HPP
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 Wednesday, Exelixis (EXEL)'s Director, David Edward Johnson, made a $3.93M purchase of EXEL, buying 190,000 shares at a cost of $20.70 a piece. Johnson was up about 4.4% on the purchase at the high point of today's trading session, with EXEL trading as high as $21.61 at last check today. Exelixis is trading up about 4.3% on the day Friday. Before this latest buy, Johnson made one other purchase in the past year, buying $2.60M shares at a cost of $21.61 a piece.
And at Hudson Pacific Properties (HPP), there was insider buying on Thursday, by Director Barry A. Sholem who purchased 80,000 shares at a cost of $6.69 each, for a total investment of $535,200. Hudson Pacific Properties is trading up about 0.2% on the day Friday. Bargain hunters can buy HPP even cheaper than Sholem did, with the stock changing hands as low as $6.46 at last check today which is 3.4% under Sholem's purchase price.
VIDEO: Friday 2/23 Insider Buying Report: EXEL, HPP