The Motley Fool

Insiders have been selling these ASX tech shares this week

Insider buying is often regarded as a bullish indicator, as few people should know a company better than its own directors.

The theory is that if they have the confidence to buy shares, it could be a sign that things are going well and they expect them to appreciate in value.

Conversely, when directors sell shares it is often regarded as a bearish indicator as you’d be unlikely to sell shares if you felt they were about to increase in value.

With that in mind, here are two shares which have recently experienced notable insider selling:

Pushpay Holdings Ltd (ASX: PPH)

According to a change of director’s interest notice, this payment company’s co-founder and non-executive director, Chris Heaslip, has offloaded 12.24 million Pushpay shares this week. No reason was given for the sale by Mr Heaslip, who resigned from the position of chief executive officer in May. However, the company advised that it expects the sell down to provide further free float and liquidity to support Pushpay’s index weightings. The sell down was underwritten and completed at NZ$3.70 per share, which was a 2.4% discount to the last close price and equated to a total consideration of NZ$45.3 million. The former CEO still holds a sizeable number of shares in the company despite this sale.

Technology One Limited (ASX: TNE)

A change of director’s interest notice reveals that a non-executive director of this software company has been selling shares this week. According to the notice, Kevin Blinco sold 60,000 Technology One shares through an on-market trade on July 4. The director received a total consideration of $485,061.03 for the shares, which equates to an average of $8.08 per share. This sale reduced Mr Blinco’s holding down to 200,000 shares. This is the second insider trade in as many weeks. At the end of last month fellow non-executive director Sharon Doyle bought 12,375 shares through an on-market trade for a total consideration of $100,397.46.

Looking for buy ideas? Then look no further than this top growth stock which has a massive US$22 billion market opportunity.

One ASX Stock For An Estimated $US22 Billion Marijuana Market

A little-known ASX company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.

And make no mistake – it is coming. To the tune of an estimated $US22 billion.

Cannabis legalisation is sweeping over North America, and full legalisation arrived in Canada in October 2018.

Here's the best part: we think there's one ASX stock that's uniquely positioned to profit immensely from this explosive new industry... taking savvy investors along for what could be one heck of a ride.

AND, this is the first time The Motley Fool Australia has EVER put a BUY recommendation on a marijuana stock.

Simply click below to learn more on how you can profit from the coming cannabis boom.

Click here to find out more

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended PUSHPAY FPO NZX. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

FREE REPORT: Five Cheap and Good Stocks to Buy now…

Our Motley Fool experts have FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.7% fully franked yield…

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.