Pushpay Holdings Limited

ASX:PPH
Deleted on 2023-05-24 00:30:05

Pushpay Holdings Limited

ASX:PPH
Deleted on 2023-05-24 00:30:05
$1.340 (+1.5%)
Last close price
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0
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Reports (11) My Report Forum Investors
Forum Topics PPH PPH Founder selldown
Strawman
3 years ago

FWIW -- the last time Chris Heaslip sold shares in 2019, he ditched 12m (over 40% of his holding) shares at a price of NZ$3.70 (pre-split), which equates to 87c on an adjusted basis at the current exchange rate.

Just worth pointing out that big insider selling isnt always the portent of doom that most usually expect. That decision to sell cost Chris over $12 million in forgone capital gains.

 

12
umop3pisdn
3 years ago

As far as I'm concerned, based on the most recent results, the PE has dropped today to around 24.

Using PE as a basis, when is this type of company considered a bargain?

1
Rapstar
3 years ago

24 is pretty damn good value IMO.

5
umop3pisdn
3 years ago

Ahh thanks for pulling me up on that Dealsmate. Being completely frank, I was using someone else's figures and mistook PE ratio for EV/EBITDA ratio. My bad. I'm still learning ????

3
Rapstar
3 years ago

Pushpay have guided for $58 Million USD EBITDAF. Assuming NPAT is 50% of EBITDAF, this equates to $77 million AUD profit, or a PER of 25. This is cheap if PPH can continue to grow profits above 20% per annum for the next few years.

7
mcgeady10
4 years ago

Hi guys, what are your thoughts on the latest sell down by Justine Smyth (recently resigned as director)? https://www.asx.com.au/asxpdf/20200901/pdf/44m706b3wdxyyy.pdf 

3
Strawman
4 years ago

Yeah, it's a bit of a concern. She was in the role for less than a year. Also noteworthy that the CEO recently sold half of his shares ($12m worth) and the CFO sold $400k worth. I'm really not one to overthink director selling -- more often than not there is no conspiracy. And we always tend to forget the examples where insiders sell down at a lower price than they could have if they'd held on longer (EG. Afterpay founder Anthony Eisen sold 2m shares at $23 last year -- a decision that cost him $100m!!) Agree it is something to watch though. Always better to see insiders buying!

10
RobW
4 years ago

The brothers are IMO simply playing their role, as major holders, by facilitating the further shoring up of the Register. Everything is part of a master plan. Simply look at the changes in the Top 20 released 6 May. Chris Heaslip's shares were disposed of by Dec 19. The volumes and trading patterns since have indicated 'wiling Seller/ willing Buyer'. Look at the substantial shareholder announcements released this evening - scroll down for the transaction summaries. This Company leaves little to chance.

The Company has signalled further acquisitions. The next one will, in all likelihood, be funded via a CR and the 'new look' Register is in line to support. 
 

The sell down is a positive, not a negative.

 

Rob W

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