Insider Trades: CEOs bought and sold shares in these 3 ASX 200 stocks last week

Welcome back to the Insider Trades Series – A weekly summary of on-market ASX 200 director transactions valued at more than $10,000. The trades have all taken place between and 17 and 25 October 2024. Directors have up to 5 business days to notify the ASX of their trades.

Top ASX 200 Insider Buys

Stockland CEO and Managing Director Tarun Gupta has returned to on-market share purchases for the first time since October 2022, bringing his beneficial ownership to 1.91 million shares. The company's stock has rallied 16% year-to-date and 47% over the past twelve months, driven by falling bond yields and growing expectations of rate cuts. While Stockland's recent 1Q25 trading update met market expectations, with residential sales rising 13% year-on-year to 1,121 units, analysts highlighted challenges in the residential segment, particularly high cancellation rates in Victoria and softening sales in New South Wales. Nevertheless, industry indicators suggest cancellation rates may have peaked, and despite caution around residential presales, analysts remain confident in Stockland's ability to meet settlement targets, backed by its robust pipeline. Other recent share transactions have been limited to Non-Executive Directors.

Top ASX 200 Insider Sells

Wisetech's Founder Richard White continues his systematic share divestment, selling weekly blocks valued between $30-60 million. The company announced on Thursday, October 24 (after market close) that White will transition from his role as Director and CEO to a consulting position focused on product and business development. Despite recent market volatility triggered by these leadership changes, analyst sentiment remains overwhelmingly positive. Major firms including Morgan Stanley, Goldman Sachs, and JPMorgan maintain Buy ratings, viewing the recent pullback as an attractive entry point for long-term investors given Wisetech's growth trajectory.

Brambles CEO Graham Chipchase has initiated his first on-market share sale since October 2023, following the defensive pooling solutions company's remarkable 35% year-to-date rally. This surge was largely attributed to Brambles' exceptional FY24 performance, which featured:

• Sales up 8% to US$6.54bn (in-line with estimates)

• Operating profit after tax up 19% to US$778m (4.7% beat)

• Total FY24 dividend of 34 US cents (17% beat)

• FY25 underlying profit growth guidance between 8-11% (vs. 7.2% estimates)

In its recent 1Q25 update, Brambles reported flat year-on-year volumes, with net new business growth offsetting declining like-for-like volumes. The company maintained its full-year guidance, including projected underlying NPAT growth of 8-11%.