12-month performance: -38% Insider activity: Bullish Buying pattern: Purchases from multiple insiders including CEO and Chairman Recent news: Underwhelming Q4 results
Fingerprint Cards is a Swedish technology company that develops, produces, and markets biometric technology. Its technology – which is able to verify a person’s identity through the analysis and matching of that individual’s unique fingerprint – can be found in hundreds of millions of devices and applications across the world. The company is listed on the Stockholm Stock Exchange and currently has a market capitalisation of SEK 3.0 billion.
Fingerprint Cards issued an underwhelming set of fourth-quarter results in mid-February. For the quarter, revenue decreased 10% on the comparable prior year period to SEK 381 million, while earnings per share fell 6%. However, the group was optimistic in relation to its future prospects, stating that it has a strong position in the credit card biometrics space. In the next few years, the company expects the number of smart payment cards to increase significantly.
Source: 2iQ Research
Looking at insider transaction activity, we think it’s interesting that a number of insiders have taken advantage of recent share price weakness and increased their holdings. This month, we have observed purchases from six different insiders, including President & CEO Christian Fredrikson and Chairman Johan Carlstrom. In our view, this is a bullish signal as it suggests that those with the most information about the company are confident about the future. With multiple insiders going long right now, we think the outlook for Fingerprint Cards is favourable.
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