The ASX stocks company insiders are buying and selling

Welcome back to the Insider Trades Series – A weekly summary of on-market ASX director transactions valued at more than $10,000. The trades have all taken place between 1 May and 9 May 2024. Directors have up to 5 business days to notify the ASX of their trades.

Richard White of Wisetech Global (ASX: WTC) once again tops the list but, as we’ve discussed in recent weeks, this seems to be part of his seasonal sell-down and whilst the numbers are large ($18 million plus last time and $23 million plus this time), he still owns a huge amount of the company worth billions of dollars. In percentage terms, his sales a miniscule.

Capricorn Metals (ASX: CMM) non-executive director (NED), Myles Ertzen sold more than $9 million worth of stock on 2 May. In December last year, fellow NED, Donald Okeby sold more than $9 million worth of shares, whilst Executive Chairman Mark Clark sold $23 million worth on the say day – 4 December.

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Tietto Minerals selling

Insider have been selling Tietto Minerals (ASX: TIE). It is under takeover offer from Zhaojin Capital (Hong Kong) Limited, with the takeover offer $0.68 per share. Seems some directors were locking in the gains and securing some certainty and provided the following in an announcement to the market today;

Tietto Directors consider that the risks associated with continuing to hold Tietto shares outweigh the advantages of continuing to hold Tietto shares, such that Tietto shareholders are urged to either: - ACCEPT into the Offer; or - otherwise sell their Tietto shares on the ASX if the prevailing market price is not materially different to the Offer price.

Tietto Minerals director selling

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Santana Minerals buying

Insider have been buying Santana Minerals (ASX: SMI), the company that is developing the Bendigo-Ophir project in New Zealand, with hopes of turning it into a world class, long life, environmentally sustainable mining project. The company completed a capital raise in April and the share price has enjoyed strong gains over the past 12 months.

Santana Minerals director buying

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Cazaly Resources buying

The only other company to see multiple insiders buying over the period was mining company, Cazaly Resources (ASX: CAZ). Cazaly has a diverse portfolio of mineral projects in Canada, Australia and Namibia. The share price has been beaten up over the past 12 months but, as we’ve noted before, insiders are adept at buying when their stock is cheap. Is now one of those times?

Cazaly Resources director buying

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The remaining insider trades