What: Shares of Infinera Corp. (NASDAQ: INFN ) jumped 12% Monday after a company executive purchased a significant number of shares.
So what: Specifically, an SEC filing Friday revealed Infinera CFO Brad Feller just spent over $206,000 to buy 25,000 shares at an average price of almost $8.25 per share.
Now what: As of yesterday's close, shares of Infinera had gradually drifted more than 12% lower since the company posted better-than-expected first quarter results last month. And that underperformance came despite at least one significant analyst upgrade since then. Feller's move, then, is viewed as a big vote of confidence and further negates concerns surrounding Infinera's previous slower-than-expected growth. To be sure, if Infinera can maintain its momentum and keep moving in the right direction, shares might well be able to continue rewarding patient investors from here.
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