3 ASX 200 directors who have been selling shares in their companies this week

Insiders have been pressing the sell button on these ASX 200 shares…

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Some directors of companies in the S&P/ASX 200 Index (ASX: XJO) have been busy selling shares this week.

It can be worth monitoring the activity of company insiders. After all, they should have better insights than the rest of us about the company's prospects.

But ultimately, director sales come in different shapes and sizes and there are many reasons why directors sell shares. So, I'd be using this information as just another piece of a much larger puzzle.

Let's check out three ASX 200 shares that have seen director selling this week.

Computershare Limited (ASX: CPU)

According to an ASX release yesterday, CEO Stuart Irving offloaded a total of 238,506 Computershare shares on market between 2 September and 5 September. These shares were sold for total consideration of $5.8 million, implying an average selling price of $24.22. 

This could be putting downwards pressure on the Computershare share price today. Shares have slid 0.9% at the time of writing to $24.52.

According to the release, the sale was, in part, to satisfy withholding tax obligations arising from the vesting of shares through the company's employee incentive plans. The release further noted that Irving sold additional shares to fund a home purchase in the UK.

Irving retains 132,580 Computershare shares, currently worth around $3.3 million, and a further 653,000 performance and share appreciation rights.

Carsales.com Ltd (ASX: CAR)

Carsales has seen two changes in director's interest notices come through today relating to separate directors. While the ASX 200 is climbing 0.3%, the Carsales share price is driving 0.4% lower at the time of writing to $22.01.

First up, alternate non-executive director Steven Kloss offloaded 47,248 Carsales shares on the market on 2 September, pocketing $1.1 million in the process. No reasons were provided for the sale but its size is dwarfed by Kloss' remaining shareholding. He still holds 2.8 million shares in the company, worth around $62 million at current prices.

Non-executive director Walter Pisciotta has also been pressing the sell button, cashing in on 250,000 shares to the tune of $5.5 million. The sales were completed on the market at an average Carsales share price of $22.14. Similarly to Kloss, there was no explanation for the sale. But as the company's founding chair, Pisciotta still holds a monstrous 8.3 million Carsales shares, currently valued at roughly $183 million.

Allkem Ltd (ASX: AKE)

Director selling has continued for this ASX lithium share this week. Last week, we discovered that non-executive director Richard Seville had a $20 million payday, offloading 1.5 million shares.

This week, we've seen three changes in directors' interest notices at Allkem.

On Monday, it was revealed that non-executive chair Martin Rowley sold 76,038 shares on market, scooping up just over $1 million. Then, news came through yesterday that Rowley had sold a further 149,459 Allkem shares, pocketing an additional $2.1 million. No reasons were provided for either of these sales. But Rowley remains a notable shareholder, holding 2.6 million Allkem shares worth $40 million based on current prices.

During the week, we also learned that managing director and CEO Martin Solay had joined the selling party, unloading 190,148 Allkem shares on the market. The ASX release said the proceeds would go towards meeting tax obligations from the vesting of performance rights. Solay continues to hold 152,818 ordinary shares, valued at around $2.3 million, and a further 770,507 unlisted performance rights.

Despite these insider sales, the Allkem share price has jumped 16% this week, extending what's been a booming year for this ASX 200 lithium share.

Motley Fool contributor Cathryn Goh has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended carsales.com Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

A happy young couple lie on a wooden deck using a skateboard for a pillow.
Share Gainers

These were the best-performing ASX 200 shares in March

These shares made their shareholders smile in March thanks to some very big gains.

Read more »

Businessman using a digital tablet with a graphical chart, symbolising the stock market.
Opinions

2 ASX shares I have been buying in 2024!

I’m a believer in the long-term outlook of these stocks.

Read more »

Stock market chart in green with a rising arrow symbolising a rising share price.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a massive day for the ASX 200, with a new all-time high recorded.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Technology Shares

This ASX tech stock rocketed 60% in March! Can it keep on delivering?

After soaring in March, the ASX tech stock is now up 169% since this time last year.

Read more »

Broker Notes

Brokers name 3 ASX shares to buy now

Here's why brokers are feeling bullish about these three shares this week.

Read more »

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why Burgundy Diamond Mines, Clarity Pharmaceuticals, EML, and Zip are sinking today

These ASX shares are ending the week in the red. But why?

Read more »

A young women pumps her fists in excitement after seeing some good news on her laptop.
Share Gainers

Why Mesoblast, Newmont, Pilbara Minerals, and Platinum shares are jumping

These ASX shares are ending the week strongly. But why?

Read more »

a young boy dressed up in a business suit and tie has a cute grin and holds two fingers up.
Opinions

2 of my top ASX 200 shares to consider buying before April

I would happily exchange dollars for these two shares right now.

Read more »