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 Friday, B. Riley Financial's CEO B. Riley Securities, Andrew Moore, made a $367,774 buy of RILY, purchasing 10,000 shares at a cost of $36.78 a piece. So far Moore is in the green, up about 12.4% on their purchase based on today's trading high of $41.35. B. Riley Financial is trading up about 6% on the day Tuesday. Before this latest buy, Moore bought RILY at 3 other times during the past year, for a total cost of $1.47M at an average of $42.14 per share.
And at Twilio, there was insider buying on Friday, by Director Donna Dubinsky who bought 3,995 shares at a cost of $62.72 each, for a total investment of $250,558. This purchase marks the first one filed by Dubinsky in the past year. Twilio is trading up about 6.9% on the day Tuesday. Dubinsky was up about 10.4% on the buy at the high point of today's trading session, with TWLO trading as high as $69.25 at last check today.
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