CEO has started sales:
2 Likes
Well, of course, they announced an hour after their own addition, -7% on the board in record time without any actions from the company itself 
The share price reaction is indeed harsh considering the magnitude of the CEO’s sale. The reduction in holdings is roughly €17,000, whereas Heikkilä’s ownership appears to be 8.3% of the share capital, i.e., something less than €5,000,000. It could, of course, be that they haven’t been able to sell more of the thinly traded stock.
6 Likes
Too bad I missed the bottom. In my opinion, a rather disproportionate reaction. At least in my books, insider buys are more likely a sign of something than sales.
I’m still buying at prices starting with 1.3X and lightening up when approaching the 1.70 mark (approx. €75M market cap). In my papers, this corresponds to a steady €100M revenue with slightly lower profitability than current and a somewhat high owner’s return requirement, based on quite conservative estimates.
5 Likes
Many people’s hair might stand on end when they know Tekova’s background and the stock price partly pumped up by announcements. It’s quite a deja vu with Lehto Group. It’s a shame that the management starts selling off their holdings for pocket change. You don’t really win anything, but you can lose a lot, as the stock reaction showed. And as they say, fool me once, shame on you; fool me twice, shame on me.
2 Likes
Lehto was Lehto.. Tekova really has a can-do attitude here!! If the CEO now sells €17,000 worth of Tekova shares before Christmas, it doesn’t mean anything yet.. keep cool…
9 Likes
Heikkilä had 3,641,295 shares before the sale. Now he sold 11,865 shares. So, hardly anything.
1 Like
Roughly calculated, Heikkilä sold for approximately 17,000 euros from his approximately 5 million euro pot. When the stock price dropped by approximately 5%, the value of his ownership dropped by approximately 250 thousand euros. What a move.
6 Likes
This is what I meant, you gain nothing but lose a lot. An insignificant sale compared to the total ownership, but the signal value is remarkably high. Should have taken a quick loan for a bathroom renovation 
But it will be interesting to see if the sales continue, clearly some parties were on the sell button yesterday.
Nothing was lost there. The company’s value has not changed at all as a result of that sale. Only the share price. If Tekova continues its good performance, the share price will follow, and the sale had no effect whatsoever on anything.
This is just generally speaking. I have no opinion on Tekova’s true value. I don’t have full confidence in Heikkilä myself either.
8 Likes
Sales continue:
8 Likes
At Tekova, the staff’s significant ownership is now being realized. Leaders are selling, so what do the lower-level workers do? One could quickly conclude that belief in a price increase also ends at the lower level if leaders are selling. Selling pressure could therefore continue a little longer.
This does not affect the company’s performance, but it does affect the share price.
3 Likes
Quite a reaction in the market. The CEO sells shares for a relatively small sum and it drops 15%. Of course, it’s possible that other staff are selling too. Either a really big overreaction or the market senses something I don’t see.
Tekova will at least be back on my watchlists again.
E: I’ve never considered the sale by the CEO / management as a big signal (Of course, if they empty their portfolio or if it’s otherwise a really shaky company, one might view the matter differently). You can never know the reason why they sell. Buying, on the other hand, is a completely different matter, as there’s essentially only one reason for it.
Probably few forum members / other investors hold 100% of their portfolio in Tekova.
3 Likes
I personally always see CEO sales as a major red flag. Why would you sell a company like this when you still get good dividends from it? Alternatively, if there’s a significant need for cash, you could also take on debt and leave the investments unsold.
Furthermore, it’s puzzling that they sell on the market and not as a block trade to some larger investor… couldn’t a buyer be found?
3 Likes
To balance personal “finances”. The CEO’s “mental capital” and investment wealth correlate almost perfectly if the investment portfolio consists 100% of the company where one also works (especially as CEO). It is indeed true that perhaps it would be more elegant to sell in block trades when the stock is so illiquid, but I also haven’t heard of this ever happening.
I must admit that the amount of shares sold has now started to be significantly larger compared to the sales of the first two days. However, I will look at the full year’s figures and guidance before drawing conclusions. But it must be admitted that this is now starting to make me a little nervous, even though I sympathize and consider balancing personal finances reasonable.
7 Likes
Of course, it leans towards being more cautious, but the scale of those transactions is still very small. I didn’t find information on whether the CEO receives share-based compensation, or what the performance bonus generally includes, but the fixed monetary compensation is quite moderate. Compared to the CEOs of larger peers (or Tecnotree), even somewhat smaller cash purchases probably have to be financed by selling shares!
image|690x153
Now the CEO’s sales have accumulated to approximately 17,000 + 50,000 = 67,000€ before taxes. That’s not quite enough to buy a new Porsche yet, but it might be enough for the self-financing portion of a two-room apartment in the Helsinki city center?
3 Likes
As noted above, Tekova’s CEO’s salary is very small, so if there’s a need for money, such as changing homes, it’s natural to sell some shares. It is likely that most of Heikkilä’s assets are in Tekova shares. Put yourselves in that situation. You work for the company and all your assets are tied up in the company – I would certainly sell some shares.
7 Likes
And when the stock price starts to fall after a long sideways trend and Christmas is already around the corner, I understand employees who decide to take their Christmas money out of the stock market. I’m not worried, although I haven’t thought about buying more (yet) as the current amount is quite suitable.
Unfortunately behind a paywall, but the initial text already bodes well
1 Like
I think it’s just one of the individual owners selling more, and not widespread panic due to the CEO’s small sales. Based on the information, at least one of the six largest owners at the time of listing has recently exited Tekova.
1 Like
An interesting observation when looking at the group of 15 largest owners and the change in their share ownership from 1.1.2025 → 30.11.2025. Only the largest owner, Kaselli oy, has added a small number of shares. The shareholding of three has remained unchanged, and now, according to CEO Heikkilä, as many as 11/15 have reduced their ownership during the year.
Perhaps these sales are also influenced by the fact that they carried out the listing as a technical listing, and no new shares were issued.
7 Likes