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Over the last year, a good number of insiders have significantly increased their holdings in Azenta, Inc. (NASDAQ:AZTA). This is encouraging because it indicates that insiders are more optimistic about the company's prospects.
Although we don't think shareholders should simply follow insider transactions, we do think it is perfectly logical to keep tabs on what insiders are doing.
View our latest analysis for Azenta
The Last 12 Months Of Insider Transactions At Azenta
The President John P. Marotta made the biggest insider purchase in the last 12 months. That single transaction was for US$553k worth of shares at a price of US$40.67 each. Even though the purchase was made at a significantly lower price than the recent price (US$52.63), we still think insider buying is a positive. Because it occurred at a lower valuation, it doesn't tell us much about whether insiders might find today's price attractive.
Happily, we note that in the last year insiders paid US$1.3m for 32.41k shares. On the other hand they divested 5.00k shares, for US$206k. In total, Azenta insiders bought more than they sold over the last year. The chart below shows insider transactions (by companies and individuals) over the last year. 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.
Azenta Insiders Bought Stock Recently
Over the last three months, we've seen significantly more insider buying, than insider selling, at Azenta. In total, four insiders bought US$1.3m worth of shares in that time. On the other hand, insiders netted US$136k by selling. The buying outweighs the selling, which suggests that insiders may believe the company will do well in the future.
Insider Ownership Of Azenta
Many investors like to check how much of a company is owned by insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. Azenta insiders own about US$51m worth of shares. That equates to 2.1% of the company. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.
So What Does This Data Suggest About Azenta Insiders?
It is good to see recent purchasing. And an analysis of the transactions over the last year also gives us confidence. But we don't feel the same about the fact the company is making losses. Insiders likely see value in Azenta shares, given these transactions (along with notable insider ownership of the company). Therefore, you should definitely take a look at this FREE report showing analyst forecasts for Azenta.