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.
On Thursday, Adobe's CFO, Daniel Durn, made a $507,758 purchase of ADBE, buying 1,300 shares at a cost of $390.58 each. Durn was up about 1.6% on the buy at the high point of today's trading session, with ADBE trading as high as $396.69 at last check today. Adobe is trading up about 2.4% on the day Monday. This purchase marks the first one filed by Durn in the past twelve months.
And at Immersion, there was insider buying on Friday, by CEO Eric Singer who bought 47,638 shares at a cost of $7.51 each, for a trade totaling $357,561. Before this latest buy, Singer made one other purchase in the past year, buying $438,425 shares for a cost of $8.77 each. Immersion is trading up about 4.6% on the day Monday. Singer was up about 4.5% on the purchase at the high point of today's trading session, with IMMR trading as high as $7.84 in trading on Monday.
VIDEO: Monday 3/24 Insider Buying Report: ADBE, IMMR
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