Directors Trades: The sellers outnumbered the buyers by nearly 10 times
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In the last fortnight the top buyers among ASX directors bought $4.26 million of their companies’ shares but the top sellers parted with $46.3 million.
This occurred despite the slim majority of trades over $100,000 (14 of the 27) being purchases.
But the handful of sales above $5 million were more than enough to outnumber the volume made by the buyers.
However in this edition he is on the other side of the ledger having parted with approximately $13 million worth of Megaport (ASX:MP1).
The notice lodged with the ASX explained this was part of a loan arrangement with the company.
Slattery’s colleague Vincent English sold $6,700,000 worth of shares after exercising options in order to pay a tax bill.
Autoparts company PWR (ASX:PWH) saw a $10m sale of shares owned by Paul Weel, the son of Kees Weel who is managing director.
The company still had to lodge a 3Y notice under Kees’ name being a transaction by a related entity but noted Paul was no longer actively involved while Kees was fully committed and held over 20 per cent of the company.
Video tech stock Atomos (ASX:AMS) say Jeromy Young sold approximately $10 million in shares the family trust held. The company said it would help the family fulfil tax obligations and buy another house.
One of the smaller sales came from Gerard Tuddenham from IT consultant CPT Global (ASX:CPT) who sold just over $200,000 in shares.
The company’s explanation was that investors wanted to buy in but promised Tuddenham would participate in the upcoming dividend reinvestment plan.
The biggest buy was made by Peter Cook from gold developer Westgold Resources (ASX:WGX). He purchased $981,280 worth of shares on market.
Other energy and resources buyers included Aurelia Metals (ASX:AMI) director Bob Vassie who bought $100,000 and Fitzroy River (ASX:FZR) Susan Thomas who bought just over $500,000 in her company’s rights issue.
James Synge of Life360 (ASX:360) bought $171,000 of shares in his San Francisco tech company which in recent weeks has been approaching levels not seen since its 2019 IPO.
The company, which runs an app allowing parents to track their children, has grown thanks to substantial revenue growth in recent months. It has also reported receiving M&A interest without being specific about potential partners.
Medtech Aroa Biosurgery (ASX:ARX), which is a more recent listee having debuted in July last year, saw John Diddams buy $238,680 in shares.
And Nathan Mitchell from mining services stock Mitchell Services (ASX:MSV) bought $193,724.