Autonomy's non-executive chairman Robert Webb has decided its time to dip in and pick up a stake in the data search software specialist.
The shares have tumbled 23% since hitting 1,538p at the end of May, a level not seen since the tech bubble began to burst in 2000.
Webb, who only took up his post in May, spent £99,254 on 8,109 shares at 1,224p each.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Earlier this month Autonomy posted record second quarter revenue and profits. Revenues in the three months to 30 June rose to $195.2m from $125.7m a year earlier, while adjusted profit before tax, which excludes various charges, climbed to $89.6m from $50.8m.
Four deals have been announced this month, two with global banks and the others with a leading global aerospace engineering supplier and a major US national law enforcement agency.
Top Director Buys
Value: £99,254
Value: £97,350
Value: £27,500
Value: £25,595
Value: £18,130
Top Director Sells
Value: £146,382
Value: £142,009
Value: £79,527
Value: £79,527
Value: £73,278
Value: £72,575
Value: £70,673
Value: £70,571
Value: £25,563
-
How to invest in nuclear powerWe need nuclear power to go green, says Dominic Frisby. But there is a better option than huge power stations
-
Chase slashes its easy-access savings rate – is it time to switch?The Chase easy-access savings account has proved popular with savers thanks to its competitive rate and bonus deals. But, as the rate has dropped, has it lost its charm?
