Martyn Myer Bought 12% More Shares In Cogstate

Those following along with Cogstate Limited (ASX:CGS) will no doubt be intrigued by the recent purchase of shares by Martyn Myer, Non-Executive Chairman of the company, who spent a stonking AU$4.2m on stock at an average price of AU$1.68. Not only is that a big swing, but it increased their holding size by 12%, which is definitely great to see.

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Cogstate Insider Transactions Over The Last Year

In fact, the recent purchase by Martyn Myer was the biggest purchase of Cogstate shares made by an insider individual in the last twelve months, according to our records. We do like to see buying, but this purchase was made at well below the current price of AU$1.91. While it does suggest insiders consider the stock undervalued at lower prices, this transaction doesn't tell us much about what they think of current prices.

In the last twelve months Cogstate insiders were buying shares, but not selling. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!

View our latest analysis for Cogstate

Cogstate is not the only stock insiders are buying. So take a peek at this free list of under-the-radar companies with insider buying.

Insider Ownership

Many investors like to check how much of a company is owned by insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. Cogstate insiders own about AU$136m worth of shares (which is 42% of the company). Most shareholders would be happy to see this sort of insider ownership, since it suggests that management incentives are well aligned with other shareholders.

So What Do The Cogstate Insider Transactions Indicate?

It's certainly positive to see the recent insider purchases. And the longer term insider transactions also give us confidence. Along with the high insider ownership, this analysis suggests that insiders are quite bullish about Cogstate. Nice! Therefore, you should definitely take a look at this FREE report showing analyst forecasts for Cogstate.

Of course Cogstate may not be the best stock to buy. So you may wish to see this free collection of high quality companies.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.