Boston, MA 09/24/2014 (wallstreetpr) – Information technology and enterprise application solutions provider, NetSol Technologies Inc. (NASDAQ:NTWK) Director, Naeem Ghauri, has resorted to buying the company’s shares on Monday. In the last four trading sessions, he has been purchasing the company’s shares to improve his stake.
Acquires Shares
The company’s Director bought 10,000 shares on September 22 at the rate of $3.68 a share, according to the Form 4 filed with the regulator on September 23. He has paid $36,800 to acquire an additional stake in the company.
The purchasing price suggested that the Director has paid a premium of 37.3% over the one-year low price of $2.68 and a steep discount of 64.8% from the 52-week high price of $10.45. As a result of the recent purchase of shares, Ghauri’s stake in the company increased to 213,353 shares valued approximately $785,130 based on the same purchased price of $3.68 a share.
Earlier Transactions
NetSol Technologies Director, Ghauri, has purchased 25,500 shares on September 17 at the rate of $3.07 a share, according to a Nasdaq data. The next day, he has bought 27,500 shares at a cost of $3.2 a share. Similarly, on September 19, Ghauri acquired another 7,500 shares at the rate of $3.35 a share.
One-Year Insider Trading
During the last three-month period, there were thirteen transactions of insider trading activities from the open market. Of this, only one transaction was meant for selling of shares while the other twelve related to acquiring shares. A total of 3,000 shares were unloaded compared to the purchase of 77,776 shares in the last three-month period. This meant that there was a net buying activity of 74,776 shares.
Similarly, for the 52-week period, there were 42 transactions of insider trading reported to the SEC. While 41 transactions were related to purchase of shares, only one transaction was meant about selling of shares. As many as 149,899 shares were purchased in the last one-year period by the insiders compared to the sale of 3,000 shares. This left a net buying of 152,899 shares during the last one-year period.
