Insider Buying

Two TeamViewer Insiders Make Large Stock Purchases

TeamViewer AG
(TMV:GR)
12 months:
+12.60%
Activity:
Bullish
Pattern:
Large purchases from two insiders
News:
Q3 results
TeamViewer AG
(TMV:GR)
12 months:
+12.60%
Activity:
Bullish
Pattern:
Large purchases from two insiders
News:
Q3 results
The images's background depicts hologram projector screen with cloud system technology, with the blog introduction mentioned the insider's investment of €665K of top.

Insider buying can provide clues about a stock’s next move. Insiders sell company stock for many reasons. But they only buy stock for one reason – they expect it to go up.

In this report, we are going to highlight some interesting insider buying at TeamViewer AG (TMV:GR). TeamViewer is a German company that offers cloud-based products that support remote work and collaboration. Globally, it has more than 600,000 customers. The company is listed on Deutsche Börse’s Xetra and currently has a market capitalization of €2.36 billion.

Insider Buying at TeamViewer

Our data shows that in November, two insiders at TeamViewer made large stock purchases.

On November 7, Executive Board member and Chief Commercial Officer Peter Turner purchased 35,000 shares at a price of €10.64 per share.

Then, on November 21, Executive Board member and CFO Michael Wilkens purchased 26,300 shares at a price of €11.15 per share.

Combined, the insiders spent around €665,000 on stock.

Top-level Insiders

What stands out here is that two top-level insiders have purchased stock. Generally speaking, top-level insiders have the most information on their companies.

It’s worth noting that these two aren’t the only top-level insiders at TeamViewer to buy stock recently. Our data shows that between mid-June and early August, CEO Oliver Steil purchased around €2.23 million worth of stock at prices of between €10.15 and €10.60.

Clearly, the C-suite believes the stock is undervalued right now.

Solid Growth

TeamViewer recently posted a solid set of Q3 results and reaffirmed its guidance for the full year.

For the quarter, revenue was up 12% year on year to €143.3 million on the back of 15% billings growth. Meanwhile, adjusted EBITDA was up 42% to €60.1 million, with the adjusted EBITDA margin rising to 42% from 34% a year earlier.

Looking ahead, the company said that it expects revenues of €565 million to €580 million for 2022 (versus €501 million in 2021). It anticipates an adjusted EBITDA margin of between 45% and 47%.

“Driven by ongoing success in both SMB and Enterprise, we continued to deliver solid growth and strong profitability,” said Mr. Wilkens.

“TeamViewer continues to display a strong degree of resilience in this environment as customers benefit from efficiency gains with our solutions,” added CEO Oliver Steil.

The market clearly liked the Q3 results as the stock jumped double-digits after they were published.

In light of these results, and the fact that the stock has taken a big hit over the last two years, we see the insider buying here as a bullish indicator.

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