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.
At Coinbase Global, a filing with the SEC revealed that on Wednesday, Director Tobias Lutke purchased 11,012 shares of COIN, for a cost of $34.62 each, for a total investment of $381,235. Lutke was up about 9.6% on the purchase at the high point of today's trading session, with COIN trading as high as $37.93 in trading on Monday. Coinbase Global is trading up about 13.1% on the day Monday. Before this latest buy, Lutke bought COIN on 20 other occasions during the past twelve months, for a total investment of $7.85M at an average of $57.04 per share.
And also on Wednesday, Director Charles Elliott Sigal bought $127,129 worth of Vir Biotechnology, buying 5,000 shares at a cost of $25.43 a piece. Vir Biotechnology is trading off about 1.5% on the day Monday. Sigal was up about 3.8% on the purchase at the high point of today's trading session, with VIR trading as high as $26.38 at last check today.
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