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 Netskope, a filing with the SEC revealed that on Wednesday, William J.G. Griffith purchased 610,291 shares of NTSK, for a cost of $11.82 each, for a total investment of $7.22M. So far Griffith is in the green, up about 9.1% on their purchase based on today’s trading high of $12.90. Netskope is trading up about 0.3% on the day Monday. Before this latest buy, Griffith made one other buy in the past twelve months, purchasing $38M shares at a cost of $19.00 a piece.
And on Friday, Todd Green purchased $2M worth of Gloo Holdings, purchasing 615,384 shares at a cost of $3.25 each. Before this latest buy, Green made one other purchase in the past twelve months, buying $2M shares at a cost of $8.00 each. Gloo Holdings is trading up about 3.7% on the day Monday. Bargain hunters are able to bag GLOO even cheaper than Green did, with the stock trading as low as $3.01 in trading on Monday which is 7.4% under Green’s purchase price.
VIDEO: Monday 7/13 Insider Buying Report: NTSK, GLOO
