updated Tuesday, January 17, 1:36 PM
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 EOG Resources, a filing with the SEC revealed that on Thursday, Director Michael T. Kerr purchased 20,000 shares of EOG, at a cost of $130.49 each, for a total investment of $2.61M. EOG Resources is trading down about 0.2% on the day Tuesday.
And at Akamai Technologies, there was insider buying on Friday, by Chief Executive Officer F. Thomson Leighton who bought 850 shares for a cost of $88.44 each, for a trade totaling $75,175. Before this latest buy, Leighton bought AKAM on 9 other occasions during the past twelve months, for a total cost of $500,975 at an average of $85.68 per share. Akamai Technologies is trading up about 0.2% on the day Tuesday. So far Leighton is in the green, up about 0.9% on their buy based on today's trading high of $89.20.
For MarketNewsVideo.com, I'm Sayoko Murase.
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