Monday 2/23 Insider Buying Report: PODD, ARW
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 Insulet, a filing with the SEC revealed that on Friday, CEO Ashley McEvoy bought 4,300 shares of PODD, at a cost of $239.35 each, for a total investment of $1.03M. McEvoy was up about 4.1% on the buy at the high point of today's trading session, with PODD trading as high as $249.10 at last check today. Insulet is trading up about 1.9% on the day Monday. This buy marks the first one filed by McEvoy in the past twelve months.
And on Thursday, CEO William F. Austen purchased $601,408 worth of Arrow Electronics, purchasing 3,960 shares at a cost of $151.87 a piece. Before this latest buy, Austen made one other purchase in the past year, buying $197,828 shares at a cost of $104.12 each. Arrow Electronics is trading up about 0.7% on the day Monday. So far Austen is in the green, up about 6.0% on their buy based on today's trading high of $161.03.
VIDEO: Monday 2/23 Insider Buying Report: PODD, ARW