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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, Salesforce's Director, G. Mason Morfit, made a $25.02M buy of CRM, purchasing 96,000 shares at a cost of $260.58 each. Salesforce is trading up about 0.7% on the day Monday.
And on Thursday, Director H. Sanford Riley bought $2.70M worth of CPI Card Group, buying 200,000 shares at a cost of $13.51 a piece. Before this latest buy, Riley purchased PMTS at 3 other times during the past year, for a total investment of $622,149 at an average of $17.78 per share. CPI Card Group is trading up about 0.3% on the day Monday. So far Riley is in the green, up about 18.4% on their buy based on today's trading high of $16.00.
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