D2L Lead Independent Director Acquires 420% More Stock

Potential D2L Inc. (TSE:DTOL) shareholders may wish to note that the Lead Independent Director, John Giffen, recently bought CA$391k worth of stock, paying CA$9.31 for each share. We reckon that's a good sign, especially since the purchase boosted their holding by 420%.

Check out our latest analysis for D2L

D2L Insider Transactions Over The Last Year

Notably, that recent purchase by John Giffen is the biggest insider purchase of D2L shares that we've seen in the last year. So it's clear an insider wanted to buy, at around the current price, which is CA$9.54. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. While we always like to see insider buying, it's less meaningful if the purchases were made at much lower prices, as the opportunity they saw may have passed. Happily, the D2L insider decided to buy shares at close to current prices. John Giffen was the only individual insider to buy shares in the last twelve months.

John Giffen bought 52.00k shares over the last 12 months at an average price of CA$8.90. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. By clicking on the graph below, you can see the precise details of each insider transaction!

D2L is not the only stock that insiders are buying. For those who like to find small cap companies at attractive valuations, this free list of growing companies with recent insider purchasing, could be just the ticket.

Insider Ownership Of D2L

Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. I reckon it's a good sign if insiders own a significant number of shares in the company. It's great to see that D2L insiders own 52% of the company, worth about CA$271m. This kind of significant ownership by insiders does generally increase the chance that the company is run in the interest of all shareholders.

So What Does This Data Suggest About D2L Insiders?

The recent insider purchase is heartening. And the longer term insider transactions also give us confidence. However, we note that the company didn't make a profit over the last twelve months, which makes us cautious. Along with the high insider ownership, this analysis suggests that insiders are quite bullish about D2L. One for the watchlist, at least! Of course, the future is what matters most. So if you are interested in D2L, you should check out this free report on analyst forecasts for the company.

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting 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.