After Avigilon's CFO's mysterious resignation and despite strong financial results, Avigilon's stock dropped sharply in the following days.
The following week, Avigilon's CEO purchased $1 million worth of Avigilon shares with his own money.
The bullish case is that the CEO knows his stock is undervalued and is putting his money where his mouth is, showing his confidence that the stock will rise (and he, as well as his investors, will make money).
The bearish case is that the CEO is doing this tactically, investing that million to protect far more money he has in Avigilon shares, to distract attention from the issues driving the stock down. See: 2 Avigilon Finance Directors Out, In Addition to CFO.
Here are the transactions made by Avigilon's CEO:
Since his purchase, the stock has fluctuated in that same ~$20 range, still down from the $26 level before the CFO announcement and far from the $34 peak earlier in 2014.