Darren Jackson Is The Independent Director of Fastenal Company (NASDAQ:FAST) And They Just Spent US$640k On Shares
Fastenal Company (NASDAQ:FAST) shareholders (or potential shareholders) will be happy to see that the Independent Director, Darren Jackson, recently bought a whopping US$640k worth of stock, at a price of US$35.57. Notably, that recent purchase by Darren Jackson is the biggest insider purchase of Fastenal shares that we've seen in the last year. So it's clear an insider wanted to buy, even at a higher price than the current share price (being US$35.25). Generally speaking, it catches our eye when insiders have purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price. Insiders own 0.3% of Fastenal shares, worth about US$70m. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders. So What Does This Data Suggest About Fastenal Insiders?