Independent Chairman of Cantaloupe Picks Up 175% More Stock

Cantaloupe, Inc. (NASDAQ:CTLP) shareholders (or potential shareholders) will be happy to see that the Independent Chairman, Douglas Bergeron, recently bought a whopping US$2.1m worth of stock, at a price of US$7.40. That purchase boosted their holding by 175%, which makes us wonder if the move was inspired by quietly confident deeply-felt optimism.

See our latest analysis for Cantaloupe

The Last 12 Months Of Insider Transactions At Cantaloupe

Notably, that recent purchase by Douglas Bergeron is the biggest insider purchase of Cantaloupe shares that we've seen in the last year. That means that an insider was happy to buy shares at around the current price of US$7.83. Of course they may have changed their mind. But this suggests they are optimistic. We do always like to see insider buying, but it is worth noting if those purchases were made at well below today's share price, as the discount to value may have narrowed with the rising price. The good news for Cantaloupe share holders is that insiders were buying at near the current price.

Cantaloupe insiders may have bought shares in the last year, but they didn't sell any. 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!

There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of undervalued small cap companies that insiders are buying.

Does Cantaloupe Boast High Insider Ownership?

For a common shareholder, it is worth checking how many shares are held by company insiders. We usually like to see fairly high levels of insider ownership. Cantaloupe insiders own about US$43m worth of shares. That equates to 7.5% of the company. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.

What Might The Insider Transactions At Cantaloupe Tell Us?

It is good to see recent purchasing. And the longer term insider transactions also give us confidence. Given that insiders also own a fair bit of Cantaloupe we think they are probably pretty confident of a bright future. Therefore, you should definitely take a look at this FREE report showing analyst forecasts for Cantaloupe.

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.