At the time of writing, WiseTech Global Limited (ASX: WTC), a prominent player in logistics software, saw its founder Richard White sell approximately $60 million in shares. The sale involved 461,891 shares at an average price of around $132 each. This move follows a series of recent transactions by White, who has sold over $1 billion worth of WiseTech shares in the past year. In a similar transaction, Executive Director Maree Isaacs also sold shares worth about $5 million, aligning with recent trends of insider sales within the company.
Currently, WiseTech Global shares are trading at $132.83, with the company boasting a market capitalization of $44.94 billion. White’s decision to reduce his holdings comes as the company continues to secure a strong position in the logistics software sector. While some may see this as a strategic move by White to diversify his portfolio, it could also raise questions about the long-term outlook for WiseTech.
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