Insider Trades: Directors are selling shares in these 4 ASX 200 companies

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 12 and 7 March 2024. Directors have up to 5 business days to notify the ASX of their trades.

Selldowns from Reporting Season Winners

Wisetech Non-Executive Director Teresa Engelhard offloaded almost $600,000 worth of shares earlier this month. This marks the first insider sell since June 2023. Wisetech shares rallied 29% in February after the company's first-half FY24 results (announced 21 Feb) smashed analyst expectations. Here were some of the key numbers:

• Revenue up 32% to $500.4 million or 1.0% ahead of consensus

• Net profit after tax up 5% to $128.4 million or 24% ahead of consensus

• Interim dividend of 7.7 cents per share compared to Citi expectations of 5.8 cents

• Reaffirmed full-year revenue and EBITDA expectations

• Upgraded EBITDA margin range to 44-46% due to the stronger-than-expected first half

• Management said the integration of recent acquisitions is "also progressing well"

Wisetech 12-month price chart (Source: Market Index)

Audinate's Chief Executive Aidan Williams and Non-Executive Director John Dyson have sold a collective $1.96 million worth of shares since 1 March 2024. This divestment follows a 40% rally in February, largely propelled by the company's first-half FY24 results announced on 12 February, which significantly beat estimates across most key metrics. Audinate has a strong record of beating analyst expectations. Interestingly, insiders (notably Williams) have offloaded shares during three of the last four reporting seasons (Feb-22, Feb-23 and August-23).

Audinate 12-month price chart (Source: Market Index)

Dicker Data: C-Suite Buying

Dicker Data shares tumbled 10.0% to a five-month low of $10.86 on 6 March after its co-founder, David Dicker, sold approximately 18.3 million shares. The selldown was conducted at a 9.5% discount to its last close and represents approximately 10.2% of the company's issued capital.

"The sale of shares is due to a recent divorce settlement and subsequent restructuring of David Dicker’s portfolio. He has entered into a 6-month escrow on his remaining shareholding," the company said in a statement.

Chief Operating Officer Vladimir Mitnovetski and Chief Information Officer Ian Welch have started to nibble around these levels.

Dicker Data 12-month price chart (Source: Market Index)

Top ASX 200 Director Buys

Note: All the below trades are from Non-Executive Directors.