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 Coherent, a filing with the SEC revealed that on Wednesday, Director David L. Motley purchased 6,041 shares of COHR, at a cost of $49.62 each, for a total investment of $299,741. Motley was up about 15.7% on the purchase at the high point of today's trading session, with COHR trading as high as $57.39 at last check today. Coherent is trading up about 6% on the day Friday. This purchase marks the first one filed by Motley in the past twelve months.
And at SmartSheet, there was insider buying on Tuesday, by Director Michael P. Gregoire who purchased 3,800 shares for a cost of $39.38 each, for a trade totaling $149,644. This purchase marks the first one filed by Gregoire in the past year. SmartSheet is trading off about 3.2% on the day Friday. So far Gregoire is in the green, up about 11.6% on their purchase based on today's trading high of $43.96.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
