Top Buys by Top Brass: CEO Drake's $500K Bet on VRAY
By The Online Investor Staff, Wednesday, August 14, 2:12 PM ET
A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ''top brass'' over the trailing six month period, one of which was a total of $500K by Scott William Drake, CEO at ViewRay Inc (NASDAQ:VRAY).
Drake bets big on VRAY:
||Scott William Drake
||President & CEO
Drake's average cost works out to $3.81/share. Shares of ViewRay Inc were changing hands at $4.04 at last check, trading up about 1% on Wednesday. The chart below shows the one year performance of VRAY shares, versus its 200 day moving average:
Looking at the chart above, VRAY's low point in its 52 week range is $2.76 per share, with $10.73 as the 52 week high point — that compares with a last trade of $4.04.
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