2 ASX 200 tech shares being bought up big by insiders

These company directors have recently spent hundreds of thousands of their own money investing in their companies.

| More on:
a man wearing spectacles has a satisfied look on his face as he appears within a graphic image of graphs, computer code and technology related symbols while he concentrates on a computer screen

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

ASX 200 tech shares are having a good run in 2023, with the S&P/ASX 200 Information Technology Index (ASX: XIJ) up 31% over the year to date.

But at an individual stock level, performances vary.

For example, NextDC Ltd (ASX: NXT) shares are up 45% while Iress Ltd (ASX: IRE) shares are down 32%.

So, it's interesting to see some company directors of both ASX 200 tech shares spending hundreds of thousands of their own money investing in their companies in recent weeks.

Let's review some of the biggest purchases.

Directors spend big on ASX 200 tech shares

Iress independent non-executive director and chair Roger Sharp purchased 30,973 shares on 31 August.

The on-market trade totalled almost $200,000 at a per-share price of $6.45.

The trade went close to doubling Sharp's personal stake in the ASX 200 tech share. Sharp already owned 17,101 Iress shares and now owns 48,074 shares.

Iress CEO and managing director Marcus Price purchased an additional 15,576 Iress shares on 31 August too. His on-market trade totalled almost $100,000 with the shares purchased for $6.41 apiece.

Price already owned 49,668 Iress shares, so this was a substantial 31% increase in his personal holdings.

Non-executive director Anthony Glenning also made a purchase on 31 August. He bought 15,455 Iress shares at $6.47 per share. This purchase also totalled nearly $100,000.

Glenning joined the board last October and did not own Iress shares previously.

The newest board member of NextDC, Maria Leftakis, purchased 12,930 shares on 31 August.

The on-market trade totalled a tad over $175,000 with each NextDC share bought at $13.54.

At the time of her appointment on 24 August, the non-executive director already owned 22,955 NextDC shares. So this latest purchase upped her stake by an impressive 56%.

ASX 200 tech shares are in the red on Tuesday afternoon alongside the benchmark index.

The S&P/ASX All Technology Index is currently down 0.12% while the S&P/ASX 200 Index (ASX: XJO) is down 0.04%.

Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Technology Shares

Man with a hand on his head looks at a red stock market chart showing a falling share price.
Technology Shares

Guess which ASX 200 tech stock is crashing 25% following an update

This tech stock is being sold off on Wednesday. But why?

Read more »

A young man goes over his finances and investment portfolio at home.
Technology Shares

Why are WiseTech shares sinking 6% today?

What's going on? Let's find out what is happening with this tech stock today.

Read more »

Two IT professionals walk along a wall of mainframes in a data centre discussing various things
AI Stocks

NextDC share price lifts off on record quarterly contract wins

AI-fuelled data centre demand is lifting investor interest in the ASX 200 tech stock today.

Read more »

group of traders cheering at stock market
Technology Shares

What drove a 10% surge in ASX 200 tech shares last week?

The ASX 200 roared to a 2-month high on Friday, with tech shares leading the 11 market sectors last week.

Read more »

A man slumps crankily over his morning coffee as it pours with rain outside.
Technology Shares

Why is the Block share price crashing 33%?

This payment giant's shares are being hammered today. But why?

Read more »

A young man pointing up looking amazed, indicating a surging share price movement for an ASX company
Technology Shares

These ASX 200 tech stocks could rise 20% to 35%

Goldman Sachs is tipping these shares to rise strongly from current levels.

Read more »

A corporate team or board stands together and looks out the window.
Technology Shares

WiseTech shares charge higher on $3.5b acquisition news

This tech stock is ending the week positively. But why?

Read more »

A man leans forward over his phone in his hands with a satisfied smirk on his face although he has just learned something pleasing or received some satisfying news.
Technology Shares

3 reasons to buy this $25 billion ASX 200 tech stock today

A top expert forecasts more outperformance from this fast-growing ASX 200 tech stock.

Read more »