This Kogan director (and Boost founder) just tripled her holding of Kogan shares

Insiders at Kogan have been buying up shares…

| More on:
A woman in workout gear flexes her muscles while holding a juice.

Image source: Getty Images

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

Investors love to see directors, chairs, and even CEOs of ASX companies picking up shares of the business they are running. It's not hard to see why.

Management buying shares of their own companies gives investors confidence that the highly-paid people running the show see value in shareholders' futures.

It also helps incentivise management, ensuring that their financial fortunes are more closely tied to those of their shareholders.

So that might be why the Kogan.com Ltd (ASX: KGN) share price is holding up better than the broader market today. At the time of writing, Kogan shares are up by 0.31% to $3.28 each.

That looks pretty good against the All Ordinaries Index (ASX: XAO). It is currently down by a nasty 0.81%.

Director triples down on Kogan shares

Yes, this week we got the news that Kogan director Janine Allis has not doubled, but tripled her holdings in Kogan. An ASX filing shows that Allis boosted her holdings by 10,000 shares on 5 December.

She paid an average of $3.33 per share. That would equate to an investment of $33,300.

Allis previously owned 4,761 shares of Kogan, so this new tranche of 10,000 shares more than triples her stake in the ASX retail share.

Janine Allis has been an independent, non-executive director at Kogan since April 2021. Previously, she founded the popular juice chain Boost Juice.

So no doubt Kogan investors will be buoyed upon hearing about this large purchase of shares. It's likely to be a much-needed confidence boost, given the company's share price has lost a painful 62.5% of its value over 2022 alone.

At the current Kogan share price, the company has a market capitalisation of $351 million.

Motley Fool contributor Sebastian Bowen has positions in Kogan.com. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Kogan.com. The Motley Fool Australia has positions in and has recommended Kogan.com. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Retail Shares

A man eases back onto his sofa, happy with the relaxed vibe from his furniture.
Retail Shares

Why I just sold half my shares in this ASX 300 stock even though I still love it!

I’m still a big fan of this business.

Read more »

Two fashionable asx investors dancing among confetti.
Retail Shares

2 'very high-quality' ASX retail shares with significant inside ownership

A fund manager has named two appealing stocks to own.

Read more »

A man sits on a bench atop a mountain with a laptop, making investments with a green ESG mind.
Earnings Results

ASX All Ords stock KMD tumbles as interim dividend cancelled

Investors are hitting the sell button on ASX All Ords stock KMD today.

Read more »

Close-up Of Empty Shopping Cart Near Person's Hand Using Calculator Over White Desk
Retail Shares

Better buy: Coles or Woolworths stock?

Which stock should go in the shopping basket?

Read more »

Person handing out $100 notes, symbolising ex-dividend date.
Retail Shares

Why did Super Retail shares drop after going ex-dividend?

This is the story behind the decline.

Read more »

Happy couple doing online shopping.
Opinions

Is it too late to buy after the Kogan share price rocketed 90% in a year?

Is this online retailer still an investment opportunity?

Read more »

Two people comparing and analysing material.
Retail Shares

Better buy in March 2024: Wesfarmers stock vs JB Hi-Fi stock

Which of these two retail heavyweights would be a better buy?

Read more »

A man eases back onto his sofa, happy with the relaxed vibe from his furniture.
Share Gainers

If you'd put $30,000 in this ASX retail stock 11 months ago, you'd have $116,000 now

When battered stocks make a comeback, it happens very quickly. Here's a prime example.

Read more »