Insiders have been buying SEEK (ASX:SEK) and this ASX share

Insiders have been buying SEEK Limited (ASX:SEK) and this ASX share. Here’s what you need to know…
The post Insiders have been buying SEEK (ASX:SEK) and this ASX share appeared first on The Motley Fool Australia. –

asx tech shares

Every so often, I like to take a look to see 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.

A number of shares have reported meaningful insider buying this month. Here are a couple which have caught my eye:

SEEK Limited (ASX: SEK)

According to a change of director’s interest notice, one of this job listings company’s directors has been buying shares this week. The notice reveals that non executive director, Linda Kristjanson AO, picked up her first shares since joining the company in October last year.

Kristjanson bought 1,137 shares through an on-market trade on 23 March. She paid an average of $27.688 per share, which equates to a total consideration of $31,481.

One broker that would approve of this purchase is UBS. Last month the broker upgraded SEEK’s shares to a buy rating with a $32.00 price target.

Treasury Wine Estates Ltd (ASX: TWE)

Another change of director’s interest notice reveals that one of this global wine company’s non executive directors has added to their position this month. According to the release, Antonia Korsansos had made two purchases of Treasury Wine Estates shares this month.

The first was for 3,750 shares on 12 March and the second was for the same number of shares a few days later on 15 March. Both purchases were made on-market at an average of $11.14 per share. This equates to a total consideration of $83,550. These purchases have increased Ms Korsansos’ holding to a total of 12,500 shares.

The broker community isn’t as confident on Treasury Wines’ prospects. Earlier this month Credit Suisse and Ord Minnett both downgraded the company’s shares to neutral ratings with $11.30 and $11.50 price targets, respectively.

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Motley Fool contributor James Mickleboro owns shares of SEEK Limited. The Motley Fool Australia owns shares of and has recommended Treasury Wine Estates Limited. The Motley Fool Australia has recommended SEEK Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Insiders have been buying SEEK (ASX:SEK) and this ASX share appeared first on The Motley Fool Australia.

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