Insiders have been buying Nuix (ASX:NXL) and this ASX share

Here’s what insiders have been buying…

| More on:
A woman in a red jacket whispers in the ear of a man who has a surprised look on his face as she explains that one top broker thinks the Appen share price is a buy

Image source: Getty Images

It can be useful for investors to keep an eye on which shares have experienced meaningful insider buying.

This is because insider buying is often regarded as a bullish indicator, as few people know a company and its intrinsic value better than its own directors. If they are buying, it suggests that they are confident in the direction the company is heading.

With that in mind, listed below are a couple of ASX shares that have reported meaningful insider buying recently. They are as follows:

Nuix Ltd (ASX: NXL)

According to a series of change of director’s interests notices, a number of insiders have been buying this investigative analytics and intelligence software provider’s shares in December. This includes the company’s CEO, Jonathan Rubinsztein. He picked up a total of 35,000 shares through on-market purchases on 21 and 22 December, more than doubling his holding to 65,000 shares. The CEO paid a total of $77,647 for the shares, which equates to an average of $2.22 per share.

Also buying shares this month have been non-executive directors Robert Mactier and Sue Thomas. They bought 100,000 shares and 67,000 shares, respectively, through on market trades. These purchases set the directors back $214,800 and $149,372.

Transurban Group (ASX: TCL)

One of this toll road operator’s independent non-executive directors has been topping up their holding this month. According to the change of director’s interests notice, Rob Whitfield AM picked up a total of 10,000 shares via on-market trades on 21 and 22 December. He paid approximately $13.57 per share or a total consideration of ~$136,000. These purchases doubled Mr Whitfield’s holding to 21,112 shares.

One broker that would support these purchases is UBS. It currently has a buy rating and $15.25 price target on the company’s shares.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of January 12th 2022

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has recommended Nuix Pty Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

Top 10 blank list on chalkboard
Share Market News

Here are the top 10 ASX shares today

Here are your top 10 biggest gainers in the ASX 200 on Wednesday.

Read more »

a man with a wry smile is behind ascending piles of coins as he places another coin on top of the tallest stack.
Share Market News

Can ASX 200 banks really see a 15% profit jump if the cash rate hits 1%?

These analysts are predicting big returns for banks in the rising interest rate environment.

Read more »

An office worker and his desk covered in yellow post-it notes
Share Market News

Here are the 3 most heavily traded ASX 200 shares on Wednesday

We take a look at the most traded ASX 200 shares by volume today.

Read more »

an oil refinery worker checks her laptop computer in front of a backdrop of oil refinery infrastructure. The woman has a serious look on her face.
Energy Shares

ASX 200 energy shares in focus amid frightening global supply crisis

A dearth of new fossil fuel projects in recent years has opened the door to today's global energy crisis.

Read more »

A happy man and woman sit having a coffee in a cafe while she holds up her phone to show him the ASX shares that did best today
Share Market News

ASX 200 midday update: BlueScope and Fortescue rise, Boral tumbles

The ASX 200 is having a strong day on Wednesday...

Read more »

A man standing in a red rock mine is covered by a sheet of gold blowing in the wind.

What’s sending the Northern Star share price higher today?

The gold miner reported it will return 20% to 30% of cash earnings as dividend payouts at its investor presentation,…

Read more »

Legendary share market investing expert and owner of Berkshire Hathaway Warren Buffett
Share Market News

Warren Buffett’s been bargain hunting following the stock market sell-off. Here’s the sector he’s been buying (and selling)

We check the investing guru's recent buys and sells.

Read more »

Share Market News

5 things to watch on the ASX 200 on Wednesday

A strong day is expected on the ASX 200 on Wednesday...

Read more »