3 Nordic Stocks With Interesting Insider Buying & Selling

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Musti Group Holding Oyj
MUSTI:FH
12 months:
+101%
Activity:
Bearish
Pattern:
Cluster selling
News:
Strong Half-Year Financial Results
Kid ASA
KID:NO
12 months:
+35%
Activity:
Bullish
Pattern:
Puchases from two insiders including CEO
News:
Strong Q1 results
Adapteo Oyj
ADAPT:SS
12 months:
+106%
Activity:
Bullish
Pattern:
Purchases from two insiders including Chairman
News:
Strong Q1 results
Musti Group Holding Oyj
MUSTI:FH
12 months:
+101%
Activity:
Bearish
Pattern:
Cluster selling
News:
Strong Half-Year Financial Results
Kid ASA
KID:NO
12 months:
+35%
Activity:
Bullish
Pattern:
Puchases from two insiders including CEO
News:
Strong Q1 results
Adapteo Oyj
ADAPT:SS
12 months:
+106%
Activity:
Bullish
Pattern:
Purchases from two insiders including Chairman
News:
Strong Q1 results

Nordic companies have seen impressive momentum this year, especially those within the region’s startup ecosystem.

Recent unicorns such as Klarna and Kolonial are two high profile examples and with 27 unicorn companies in a region of 26 million people, the Nords currently have the highest number of unicorns per capita in the world outside of Silicon Valley.

The Nordic countries aren’t only known for their startups. Here are several Nordic companies that caught our attention earlier this year.

Musti Group Holding Oyj (MUSTI:FH)

Finnish company Musti offers a diverse range of food products, accessories and services for pet owners in the Scandinavian region. Musti is currently listed on the OMX Nordic Exchange Helsinki and boasts a market capitalization of €942 million.

Musti saw a large case of cluster selling (the opposite of cluster buying) in February 2021. Six insiders who sold stock included:

  • The CEO
  • Chief Financial Officer
  • Chief Commercial Officer
  • Head of Strategy

€5 million worth of company shares were sold within a three day period.

Why did this happen?

The stock’s lock-up period had expired - company insiders at Musti had entered into an agreement that barred them from selling company stock until a year after the company’s IPO.

During that period, Musti’s stock price rose from €8.75 per share to €28 per share, registering a gain of around 220%. It’s little wonder why Musti’s insiders acted.

Kid ASA (KID:NO)

Kid ASA is a home furnishing retailer operating in Norway, Sweden, Finland, and Estonia. Currently listed on the OMX Nordic Stock Exchange Stockholm with a market capitalization of NOK 3.7 billion, Kid ASA experienced significant insider buying in late Winter 2021.

Insider transactions included:

  • CEO Anders Fjeld’s purchase of 10,000 shares for NOK 901,700 (approx $106,000)
  • Major shareholder Solveig Gjelsten’s purchase of 25,000 shares for NOK 2.3 million (approx $267,000).

These purchases are interesting for two reasons:

  • Gjelsten is married to Bjorn Rune Gjelsten, Kid ASA’s co-founder and largest shareholder
  • Gjesten has a 2iQ Trading IQ of 111. She has timed her purchases well in the past and made strong returns

Adapteo Oyj (ADAPT:SS)

Adapteo specializes in adaptable buildings. Based in Finland, these buildings are based on modular and circular construction concepts. The company is listed on the OMX Nordic Exchange Stockholm and has a market capitalization of SEK 205 billion.

Q1 2021 was a busy month for Nordic companies and Adapteo was another company that registered substantial insider activity in February 2021.

  • Chairman Peter Nilsson bought 17,426 Adapteo shares for SEK 88.35 per share
  • Soon after, Nilsson bought an additional 12,000 shares

Together, these transactions cost the insider SEK 2.62 million (approx $316,000) and increased his holding by 19%



In light of this performance and Nilsson’s visible confidence in the company’s stock, we considered this insider transaction to be a bullish signal for Adapteo investors.

Read the 2iQ blog for more Nordic insider buying reports and insider selling reports.

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