Markets

Insider Bets Paying Off At INFN As New 52-Week High Reached

In trading on Tuesday, shares of Infinera Corp (Symbol: INFN) touched a new 52-week high of $6.50/share. That's a 132.14% rise, or $3.7 per share from the 52-week low of $2.80 set back on 07/09/2019. That means at today's intraday high, any investor who purchased INFN stock any time over the past 52 weeks has an unrealized gain, including company insiders.

Over the past six months, insiders have been scooping up shares, and those bets are now paying off handsomely. As summarized by the table below, INFN has seen 3 different instances of insiders buying over the trailing six month period.

Purchased Insider Title Shares Price/Share Value
05/15/2019 Thomas J. Fallon Chief Executive Officer 50,000 $3.32 $165,915.00
05/14/2019 Marcel Gani Director 100,000 $3.15 $314,790.00
05/24/2019 David W. Heard Chief Operating Officer 25,000 $3.13 $78,245.00

The chart below shows where INFN has traded over the past year, with the 50-day and 200-day moving averages included.

Infinera Corp Moving Averages Chart

In afternoon trading on Tuesday, INFN shares are changing hands at $6.00/share, slightly below the new 52-week high.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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