Insider Buys Additional kr37m In Fortnox Stock

Fortnox AB (publ) (STO:FNOX) shareholders (or potential shareholders) will be happy to see that the Chairman of the Board, Karl Hallrup, recently bought a whopping kr37m worth of stock, at a price of kr55.00. While that only increased their holding size by 0.6%, it is still a big swing by our standards.

View our latest analysis for Fortnox

Fortnox Insider Transactions Over The Last Year

Notably, that recent purchase by Karl Hallrup is the biggest insider purchase of Fortnox shares that we've seen in the last year. That implies that an insider found the current price of kr56.24 per share to be enticing. Of course they may have changed their mind. But this suggests they are optimistic. 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. In this case we're pleased to report that the insider purchases were made at close to current prices.

Over the last year, we can see that insiders have bought 715.24k shares worth kr40m. But they sold 15.00k shares for kr1.1m. Overall, Fortnox insiders were net buyers during the last year. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

Fortnox 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

For a common shareholder, it is worth checking how many shares are held by company insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. It's great to see that Fortnox insiders own 21% of the company, worth about kr7.2b. Most shareholders would be happy to see this sort of insider ownership, since it suggests that management incentives are well aligned with other shareholders.

What Might The Insider Transactions At Fortnox Tell Us?

It is good to see recent purchasing. And an analysis of the transactions over the last year also gives us confidence. Along with the high insider ownership, this analysis suggests that insiders are quite bullish about Fortnox. Looks promising! Of course, the future is what matters most. So if you are interested in Fortnox, 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.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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.