Wednesday 8/12 Insider Buying Report: UPWK, VIRT

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.

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 Upwork, a filing with the SEC revealed that on Tuesday, Director Gregory C.

Gretsch purchased 547,844 shares of UPWK, at a cost of $14.71 each, for a total investment of $8.06M.

Upwork is trading up about 3.5% on the day Wednesday.

Before this latest buy, Gretsch bought UPWK on 2 other occasions during the past year, for a total cost of $6.61M at an average of $9.54 per share.

And also on Tuesday, Chief Executive Officer Douglas A.

Cifu bought $2.25M worth of Virtu Financial, buying 100,000 shares at a cost of $22.45 a piece.

Virtu Financial is trading up about 2.6% on the day Wednesday.

So far Cifu is in the green, up about 5.2% on their purchase based on today's trading high of $23.63.