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Friday 9/23 Insider Buying Report: ADBE, KNTK
The Online Investor - Fri., Sep. 23, 1:41 PM

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 Adobe, a filing with the SEC revealed that on Thursday, CFO Daniel Durn purchased 3,250 shares of ADBE, for a cost of $288.11 each, for a total investment of $936,358. Adobe is trading down about 0.7% on the day Friday.

And on Wednesday, See Remarks Jamie Welch bought $905,850 worth of Kinetik Holdings, buying 24,750 shares at a cost of $36.60 each. Before this latest buy, Welch made one other buy in the past twelve months, purchasing $42,383 shares at a cost of $38.53 each. Kinetik Holdings is trading off about 5.3% on the day Friday. Bargain hunters are able to bag KNTK at a price even lower than Welch did, with shares changing hands as low as $31.66 in trading on Friday -- that's 13.5% under Welch's purchase price.

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September 25, 2022    6:13 AM Eastern

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