Friday 9/11 Insider Buying Report: UPST, ATEC
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 cash 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 Thursday, Chief Executive Officer Paul Gu bought 50,000 shares of UPST, at a cost of $25.55 each, for a total investment of $1.28M. Upstart Holdings is trading up about 1.7% on the day Friday. Before this latest buy, Gu purchased UPST on 2 other occasions during the past twelve months, for a total investment of $5.3M at an average of $35.32 per share.
And at Alphatec Holdings, there was insider buying on Thursday, by CEO Patrick Miles who purchased 115,000 shares at a cost of $8.81 each, for a total investment of $1.01M. Alphatec Holdings is trading up about 13.3% on the day Friday. Miles was up about 14.4% on the buy at the high point of today's trading session, with ATEC trading as high as $10.08 in trading on Friday.
VIDEO: Friday 9/11 Insider Buying Report: UPST, ATEC 