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5 ASX shares insiders bought today – TPW, CCX & more

ASX shares with insider buying is a big tick for current or potential shareholders.

Insiders – which include the CEO, board of directors or founders – usually have a strong grasp on the business.

When an insider puts their own cash on the table, the market takes notice.

Here are five companies with insiders who purchased ASX shares today.

1. Temple & Webster Group Ltd (ASX: TPW)

Co-founder Conrad Yiu added to his already extensive personal and indirect shareholding by purchasing $149,955 of shares on market.

The purchase comes after Temple & Webster achieved a 46% jump in revenue in the first half of FY22.

The online retailer has nearly tripled sales over the past two years, as households recognise the convenience of shopping at home.

2. City Chic Collective Ltd (ASX: CCX)

The City Chic share price was smashed 32% last week after the business reported a massive inventory number leading to a drawdown of its debt facility.

“We have deliberately used the cash to build a base of stock to be prudent and mitigate against the risk of supply chain volatility and secure ability to continue to grow globally. We see this as a temporary situation.”

The risk is that City Chic has purchased too much, leading to discounting and potential write offs – just ask ASX shares such as Kogan.com Ltd (ASX: KGN).

Positively, management has put their money where their mouth is. The CEO and a director purchased shares on market on Thursday.

Then Chairman Michael Kay followed up with a $192,009 purchase.

3. NextDC Ltd (ASX: NXT)

Director Jennifer Lambert purchased roughly $256,000 worth of shares post-NextDC’s half-year result.

The business upgraded its guidance for the year on the back of strong demand for data centre capacity from ASX shares.

Prior to the result, the NEXTDC share price was down 21% for the year.

4. Step One Clothing Ltd (ASX: STP)

CEO Greg Taylor who already owns two-thirds of the business bought 300,000 shares on market.

Given he already owns 123 million shares, Friday’s purchase doesn’t make a big dent in his ownership.

But with the Step One share price 36% below its IPO price, it’s a show of faith in this business as it launches its women’s range and United States expansion.

5. Dusk Group Ltd (ASX: DSK)

CEO Peter King purchased $249,284 despite the business recording negative half-on-half growth at its most recent result.

ASX shares such as Dusk have been cycling elevated prior year periods as consumers shift spending away from discretionary items and towards leisure and travel.

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At the time of publishing, Lachlan owns shares in TPW.
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