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Potential Avnet, Inc. (NASDAQ:AVT) shareholders may wish to note that the Independent Director, Oleg Khaykin, recently bought US$291k worth of stock, paying US$32.28 for each share. However, it only increased shareholding by a small percentage, and it wasn't a huge purchase by absolute value, either.
Avnet Insider Transactions Over The Last Year
In fact, the recent purchase by Oleg Khaykin was the biggest purchase of Avnet shares made by an insider individual in the last twelve months, according to our records. That means that an insider was happy to buy shares at around the current price of US$32.51. 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. Happily, the Avnet insiders decided to buy shares at close to current prices.
Avnet insiders may have bought shares in the last year, but they didn't sell any. 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!
Avnet is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.
Insider Ownership of Avnet
I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. We usually like to see fairly high levels of insider ownership. Avnet insiders own about US$20m worth of shares. That equates to 0.6% 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.
What Might The Insider Transactions At Avnet Tell Us?
It is good to see the recent insider purchase. We also take confidence from the longer term picture of insider transactions. However, we note that the company didn't make a profit over the last twelve months, which makes us cautious. Given that insiders also own a fair bit of Avnet we think they are probably pretty confident of a bright future. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. You'd be interested to know, that we found 1 warning sign for Avnet and we suggest you have a look.
Of course Avnet may not be the best stock to buy. So you may wish to see this free collection of high quality 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, but not derivative transactions.
This article by Simply Wall St is general in nature. 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.
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