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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Monday, DocuSign's CEO, Daniel D. Springer, made a $2.41M buy of DOCU, purchasing 18,700 shares at a cost of $128.89 each. So far Springer is in the green, up about 11.1% on their purchase based on today's trading high of $143.22. DocuSign is trading up about 4.3% on the day Tuesday. Before this latest buy, Springer bought DOCU on 2 other occasions during the past year, for a total cost of $5M at an average of $143.86 per share.
And at Petco Health & Wellness, there was insider buying on Monday, by CEO & Chairman Ron Coughlin who bought 23,290 shares at a cost of $17.21 each, for a trade totaling $400,821. Before this latest buy, Coughlin purchased WOOF at 2 other times during the past year, for a total investment of $1.03M at an average of $21.63 per share. Petco Health & Wellness is trading up about 3.7% on the day Tuesday. So far Coughlin is in the green, up about 8.9% on their buy based on today's trading high of $18.75.
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