The boss of which tech company has just bought $1m worth of shares?

It’s usually a pretty good sign when senior management are forking out their own money for shares in a business, which is exactly what the Wisetech Global Ltd (ASX: WTC) Chief Executive Officer has done, shelling out more than $1 million this week.

Wisetech said in a statement to the ASX on Friday that CEO Zubin Appoo had bought 20,020 shares for $1,000,049.

The shares were bought on Thursday, 26  February, a day after the company reported its first-half results.

The company added:

Following settlement, Mr Appoo will hold (directly and indirectly) 102,160 shares in WiseTech, in addition to 6,289 unvested share rights under the Company’s Equity Incentives Plan for employees.  

Wisetech leaning into AI

And if analysts’ predictions for Wisetech shares are on the money, Mr Appoo could be sitting on a hefty profit in the year to come.

The team at Bell Potter ran the ruler over this week’s results and like what they see, but first, let’s have a look at what the company reported.

Wisetech said in a statement to the ASX on Wednesday that revenue for the first half was 76% higher at US$672 million, with EBITDA 31% higher at US$252.1 million.

Net profit fell 36% to US$68.1 million, while free cash flow was 24% higher at $153.6 million.

What piqued the interest rate of many market watchers was the company’s stance on artificial intelligence, with Wisetech flagging far-reaching staff cuts as AI adoption ramped up.

As the company said:

WiseTech is undergoing a deep AI transformation, as AI continues to be embedded across its software for customers and internal operations. This will accelerate productivity, automation and decision-making across the industry’s complex, regulated workflows, and across WiseTech’s own operations. WiseTech today announced the next phase of their efficiency program, starting in the second half of FY26 and continuing into FY27, expecting to reduce teams – initially product & development and customer service across the company, including e2open, by up to 50% in terms of headcount. As part of WiseTech’s long-term strategic focus on higher-margin recurring revenue, and WiseTech’s commitment to building a higher-performance culture, this program will likely result in a reduction of approximately 2,000 roles in FY26 and into FY27.

So the company is looking to maintain its rapid growth profile, while saving money with deep jobs cuts.

Wisetech shares looking cheap

The Bell Potter team said they had made modest changes to their calculations for Wisetech, slightly reducing their price target to $83.75 while maintaining a buy recommendation.

This compares with a price for Wisetech shares of just $49 currently, which is near the lower end of the company’s trading range over the past 12 months.

The post The boss of which tech company has just bought $1m worth of shares? appeared first on The Motley Fool Australia.

More reading

• Why this expert thinks the WiseTech share price can rise 80% in the next 12 months
• Buy, hold, sell: Flight Centre, WiseTech, and Woolworths shares
• Why WiseTech Global shares could rise a further 70%
• What are the experts saying about Domino’s Pizza, Wisetech, and Woolworths shares?
• Why ASX tech shares still deserve a place in your portfolio in 2026

Motley Fool contributor Cameron England has positions in WiseTech Global. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.