Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Friday, NetApp's, Anders Gustafsson, made a $499,597 purchase of NTAP, buying 5,524 shares at a cost of $90.44 each. Investors have the opportunity to buy NTAP even cheaper than Gustafsson did, with shares changing hands as low as $88.00 in trading on Tuesday -- that's 2.7% under Gustafsson's purchase price. NetApp is trading up about 1.5% on the day Tuesday. This buy marks the first one filed by Gustafsson in the past year.
And at Savara, there was insider buying on Monday, by David A. Ramsay who purchased 150,000 shares at a cost of $2.77 each, for a total investment of $416,250. Before this latest buy, Ramsay made one other purchase in the past twelve months, buying $287,600 shares for a cost of $2.88 a piece. Savara is trading up about 3.1% on the day Tuesday.
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