2 ASX 200 tech shares being bought up big by insiders

These company directors have recently spent hundreds of thousands of their own money investing in their companies.

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ASX 200 tech shares are having a good run in 2023, with the S&P/ASX 200 Information Technology Index (ASX: XIJ) up 31% over the year to date.

But at an individual stock level, performances vary.

For example, NextDC Ltd (ASX: NXT) shares are up 45% while Iress Ltd (ASX: IRE) shares are down 32%.

So, it's interesting to see some company directors of both ASX 200 tech shares spending hundreds of thousands of their own money investing in their companies in recent weeks.

Let's review some of the biggest purchases.

Directors spend big on ASX 200 tech shares

Iress independent non-executive director and chair Roger Sharp purchased 30,973 shares on 31 August.

The on-market trade totalled almost $200,000 at a per-share price of $6.45.

The trade went close to doubling Sharp's personal stake in the ASX 200 tech share. Sharp already owned 17,101 Iress shares and now owns 48,074 shares.

Iress CEO and managing director Marcus Price purchased an additional 15,576 Iress shares on 31 August too. His on-market trade totalled almost $100,000 with the shares purchased for $6.41 apiece.

Price already owned 49,668 Iress shares, so this was a substantial 31% increase in his personal holdings.

Non-executive director Anthony Glenning also made a purchase on 31 August. He bought 15,455 Iress shares at $6.47 per share. This purchase also totalled nearly $100,000.

Glenning joined the board last October and did not own Iress shares previously.

The newest board member of NextDC, Maria Leftakis, purchased 12,930 shares on 31 August.

The on-market trade totalled a tad over $175,000 with each NextDC share bought at $13.54.

At the time of her appointment on 24 August, the non-executive director already owned 22,955 NextDC shares. So this latest purchase upped her stake by an impressive 56%.

ASX 200 tech shares are in the red on Tuesday afternoon alongside the benchmark index.

The S&P/ASX All Technology Index is currently down 0.12% while the S&P/ASX 200 Index (ASX: XJO) is down 0.04%.

Motley Fool contributor Bronwyn Allen 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 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 Scott Phillips.

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