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 Expensify (EXFY), a filing with the SEC revealed that on Monday, Steven J. McLaughlin bought 499,946 shares of EXFY, at a cost of $5.99 each, for a total investment of $3M. Bargain hunters are able to pick up EXFY even cheaper than McLaughlin did, with the stock changing hands as low as $4.06 in trading on Wednesday -- that's 32.2% under McLaughlin's purchase price. Expensify is trading off about 29.6% on the day Wednesday. This purchase marks the first one filed by McLaughlin in the past twelve months.
And at Axalta Coating Systems (AXTA), there was insider buying on Friday, by CEO & President Chris Villavarayan who bought 33,710 shares for a cost of $29.67 each, for a total investment of $1.00M. Before this latest buy, Villavarayan made one other buy in the past year, purchasing $1.01M shares for a cost of $29.20 each. Axalta Coating Systems is trading up about 1.2% on the day Wednesday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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