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This Tech Founder and CEO Has Bought $158 Million Worth of His Own Company's Shares Since June. Here's Why He Can't Get Enough of the Stock.

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This Tech Founder and CEO Has Bought $158 Million Worth of His Own Company's Shares Since June. Here's Why He Can't Get Enough of the Stock.: https://g.foolcdn.com/editorial/images/753818/gettyimages-insider-trading.jpeg

There are a lot of reasons for insiders to sell shares of their own company's stock. There's only one reason for them to buy it.

Asana (NYSE: ASAN) founder and CEO Dustin Moskovitz bought $158 million worth of his own company's stock over the last five months. That's a massive amount for a company with a market cap of about $4.4 billion.

To be sure, Asana shares have been beaten down by the market. The stock currently trades around 86% below its all-time high, set in late 2021. But Moskovitz certainly sees the depressed stock price as a buying opportunity. Here's why he can't get enough of his own company's stock.

Source Fool.com

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