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 Akamai Technologies (AKAM), a filing with the SEC revealed that on Friday, Chief Executive Officer F. Thomson Leighton purchased 17,456 shares of AKAM, at a cost of $57.28 each, for a total investment of $999,880. Akamai Technologies is trading trading flat on the day Tuesday. Before this latest buy, Leighton purchased AKAM on 5 other occasions during the past twelve months, for a total investment of $9M at an average of $52.14 per share.
And at Brinks (BCO), there was insider buying on Thursday, by EVP, Chief Financial Officer Ronald James Domanico who purchased 16,744 shares at a cost of $29.86 each, for a total investment of $499,976. This buy marks the first one filed by Domanico in the past year. Brinks is trading up about 2.9% on the day Tuesday. Domanico was up about 3.4% on the purchase at the high point of today's trading session, with BCO trading as high as $30.87 in trading on Tuesday.
