Each week, we spotlight notable on-market trades made by ASX 200 company directors. These transactions — all valued over $10,000 — offer a glimpse into how corporate insiders are positioning themselves. The latest batch of trades occurred between 12 and 15 May 2025.

Directors are required to notify the ASX of trades within five business days, giving retail investors an opportunity to evaluate insider sentiment.

Top Insider Buys This Week

Here are the key director purchases from the past week:

• Dyno Nobel (ASX: DNL)
  • Director: Gregory Robinson
  • Date: 13 May 2025
  • Trade Value: $100,225 at $2.64/share
  • Details: Gregory Robinson increased his stake by 38,000 shares (up 21.2%), bringing his total to 217,000 shares. This buy follows Dyno Nobel’s 1H25 results, which slightly exceeded expectations due to reduced corporate costs. The company’s recent divestment of fertiliser assets marks a shift toward an explosives-focused strategy.
• Zip Co (ASX: ZIP)
  • Director: Andrew Stevens
  • Date: 13 May 2025
  • Trade Value: $98,700 at $2.10/share
  • Details: A strong insider buy suggesting confidence in Zip’s turnaround efforts amid stabilizing consumer finance conditions.
• QBE Insurance (ASX: QBE)
  • Directors: Michael Wilkins, Kathryn Lisson, Peter Wilson, Penny James, Tan Le, Neil Maidment, Stephen Ferguson
  • Date: 12 May 2025
  • Trade Value: Ranges from $10,764 to $34,151, all at $22.38/share
  • Details: A cluster of insider buys from QBE’s board, coinciding with the company’s Q1 results. QBE reaffirmed full-year guidance, targeting mid-single-digit gross written premium (GWP) growth and a combined operating ratio (COR) of approximately 92.5%. The strong quarterly result and director purchases could reflect management’s confidence in future performance. QBE’s Director Share Acquisition Plan also supports this insider alignment with shareholder value.
• Iluka Resources (ASX: ILU)
  • Director: Peter Smith
  • Date: 14 May 2025
  • Trade Value: $30,067 at $4.14/share
  • Details: A modest buy as Iluka continues to navigate global commodity market conditions and expand its rare earths exposure.

Top Insider Sells This Week

While insider buys often signal confidence, sales can offer context around valuation or liquidity needs. Here are the notable sales:

• Supply Network (ASX: SNL)
  • Director: Peter McKenzie
  • Date: 12 May 2025
  • Trade Value: $4,085,733 at $39.97/share
  • Details: A large offload, though McKenzie still holds around 6.5 million shares — approximately 15% of the company. His continued stake suggests a strategic sell rather than a complete exit.
• Liontown Resources (ASX: LTR)
  • Director: Timothy Goyder
  • Date: 15 May 2025
  • Trade Value: $1,538,112 at $0.77/share
  • Details: Goyder sold 2 million shares following a 63% price rally in the first half of May. Despite the sale, this represents just 0.59% of his 333 million shares. Liontown reached a six-month high of $0.81 during the surge.

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