Insider Trades: 5 ASX 200 directors bought and sold these stocks last week
Insiders from Downer bought shares after a massive contract win, while executives from Harvey Norman and Steadfast offloaded some shares.
Source: iStock
Mentioned
Welcome back to the Insider Trades series – a weekly summary of on-market ASX 200 director transactions valued at more than $10,000. The below trades have all taken place between 13 and 16 September 2025. Directors have up to 5 business days to notify the ASX of their trades.
Insider trading activity dropped sharply last week, breaking a streak of elevated transaction volumes since the end of August reporting season. The underlying catalyst remains unclear, though it may reflect caution amid all-time market highs and stretched valuations.
Top ASX 200 Insider Buys
Company | Date | Director | Price | Value |
|---|---|---|---|---|
GQG Partners | 16/09/25 | $1.71 | $420,636 | |
GQG Partners | 15/09/25 | $1.70 | $343,456 | |
Downer | 16/09/25 | $7.22 | $119,289 | |
Downer | 15/09/25 | $7.21 | $72,099 |
Key takeaways
Not the most interesting set of insider buys, Chief Investment Officer Rajiv Jain continues accumulating shares through QVFT LLC, an entity he controls alongside GQG's parent organisation
Downer directors back the stock following major contract win: Two Non-Executive Directors purchased shares after the company secured a $3.05 billion, six-year contract to deliver base and estate services to the Australian Department of Defence.
Top ASX 200 Insider Sells
Company | Date | Director | Price | Value |
|---|---|---|---|---|
Harvey Norman | 15/09/25 | $7.17 | $3,860,824 | |
Harvey Norman | 15/09/25 | $7.17 | $3,860,824 | |
Steadfast Group | 15/09/25 | $6.09 | $1,855,117 |
Key takeaways
Co-founder Gerald Harvey has sold approximately 2 million shares ($14.3 million) in four separate transactions in recent weeks. However, this represents a mere ~0.25% reduction in his overall holdings.
Steadfast Group's CEO Robert Kelly offloaded a sizeable parcel, marking his first selldown since November 2024. The stock slipped 0.9% on the day of its FY25 results (28 August), with earnings relatively in-line with market expectations. While the numbers broadly met expectations, the final dividend of 19.5 cents disappointed investors, contributing to a 0.9% decline on results day. Despite this, Macquarie maintained its bullish stance, noting that "the ability to maximise returns on a US roll-out is key to Steadfast's long-term value" and retaining its Outperform rating at current valuations.
