Loudcloud Chairman Marc Andreessen has bought 438,000 shares of stock in his company over the past month and a half, company executives said Monday. Loudcloud did not put a price tag on Andreessen's purchase. The stock traded between $2.10 at the beginning of September and closed at $1.29 Friday. A filing has not yet been made with the Securities and Exchange Commission.
In June, Andreessen purchased 1 million shares of stock in his company on the open market. Loudcloud, which went public in March, manages Internet infrastructures for online-intensive businesses. The company's stock peaked at $7 in May, but has moved downward ever since.