Insider at Netsol Technologies Inc. Buys 3,000 Shares
Najeeb Ghauri (Insider Trades), CEO of NetSol Technologies Inc. (NTWK), bought 3,000 shares of the company on July 22. The average price per share was $4.99, for a total transaction of $14,970. NetSol is a worldwide provider of IT and enterprise software solutions, primarily serving the global leasing and financing industry. The company's market cap is $50.55 million, and P/S ratio is 1.11.
There have only been 8 sells out of 81 insider transactions with the company since May 2005; Ghauri bought 260,935 shares of the company in 45 transactions, his earliest in May 2005. Ghauri also bought 3,500 shares of NetSol for an average price of $5.14 on July 16, 2015. The month end price decreased to $3.29 per share in October 2014, compared to $13.17 per share in March 2013. The frequency and volume of insider buys is inversely related to the month end price of the company.
For more information about insider trades with NetSol Technologies Inc., click here.
The company reported a net loss of $1.10 million in the fiscal third quarter of 2015. Net revenue increased 40%, from $9.4 million in the fiscal third quarter of 2014, to $13.1 million in the fiscal third quarter of 2015. Revenue increased 2.93% from 2010 to 2015.
Ghauri stated that the company is "at a pivotal stage...approaching a time of record revenue," and that the "relaxation of restrictions for new finance and leasing market entrants into China" only adds to the company's confidence. NetSol signed an agreement with BNPP-Geely, a joint venture between Geely Automobile Holdings Limited and BNP Paribas Personal Finance, on July 8, 2015. Ghauri reported that this agreement will "further extend [NetSol's] leadership position in [China]," and that "three auto finance captives operating in China have gone live" with NetSol's system in the six months prior to the agreement.
According to GuruFocus.com data, NetSol Technologies Inc.'s business predictability rank is 1 out of 5 stars. For more information about business predictability rank, click here.
One guru sold out, and another increased stake in NetSol Technologies in the first quarter of 2015. Chuck Royce (Trades, Portfolio) (Trades, Portfolio) of Royce & Associates LLC, sold all 22,300 shares of NetSol for an average price of $5.06 per share. Royce acquired the shares in the second quarter of 2014 at an average price of $4.21 per share. Jim Simons (Trades, Portfolio) (Trades, Portfolio) of Renaissance Technologies LLC, bought 62,220 shares of NetSol for an average price of $5.06 per share. This transaction increased his stake in the company by 87.27%. For more information about guru transaction with NetSol Technologies Inc., click here.
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This article first appeared on GuruFocus.
