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 Strategic Education, a filing with the SEC revealed that on Monday, Executive Chairman Robert S. Silberman purchased 13,001 shares of STRA, at a cost of $60.24 each, for a total investment of $783,181. Silberman was up about 2.9% on the purchase at the high point of today's trading session, with STRA trading as high as $61.97 in trading on Wednesday. Strategic Education is trading up about 3.8% on the day Wednesday. Before this latest buy, Silberman bought STRA on 2 other occasions during the past twelve months, for a total cost of $890,460 at an average of $63.60 per share.
And on Friday, Director Ruth Porat purchased $631,050 worth of Blackstone, purchasing 5,000 shares at a cost of $126.21 each. Blackstone is trading up about 1.4% on the day Wednesday.
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