Insider buying in small and smaller-cap tech stocks signals potential buying opportunities. The stocks on this list have catalysts for higher share prices, in addition to significant insider buying, including accelerating contract wins, improved profitability, and capital returns. The questions to be answered are who’s buying, how much, and what it could mean for the stock price in 2025.

In two cases, higher share prices are likely, but in the third, investors should beware; it could fall as much as 20% before it hits bottom and begins to rebound. 

Science Applications International Insiders Are Buying

Science Applications International (NYSE: SAIC) tops the charts for the number of insiders buying stock since March. Insiders, including the CEO, an EVP, and several directors, made purchases, albeit small ones, relatively speaking. Together, they and other insiders own only 0.44% of the stock as of early June and are as likely to sell as buy.

That’s because of share-based compensation and directives detailing the amount to be held by certain officers. However, despite the mixed signal, this stock presents an opportunity to buy ahead of the summer. 

The stock price plunged following the FQ1 earnings release because of underperformance and tepid results. The offset is that Science Applications International grew, margins were steady despite headwinds, and accelerating contract wins were revealed.

The takeaway is that the company, which helps the government and military modernize and operate their digital technology, is expected to accelerate growth, and its cash flow is reliable. Reliable cash flow ensures the dividend is reliable, yielding approximately 1.5% in early June, compounded by aggressive share buybacks. 

Founder and Value-Focused Institution Buys ON24, Inc.

ON24, Inc. (NYSE: ONTF), which provides an intelligent engagement platform for businesses, tops the list for the number of insider transactions. Insiders, specifically two insiders, including the founder and Lynrock Lake LP, reported 19 separate transactions tracked by InsiderTrades, bringing total ownership to 33%. Lynrock Lake is the single largest shareholder at roughly 18%; it is a value-focused fund with a long-term approach.

The company is a microcap struggling to gain traction. Revenue has been in a sustained decline since 2021 and is not expected to improve; however, there may still be reasons to consider buying it.

The company is struggling but shows signs that its turnaround efforts are gaining traction. It also announced a share buyback program that signals confidence from board members. The institutional interest is also high, accounting for virtually all the remaining shares, which signals interest, if not confidence, among the group.

Likewise, InsiderTrades tracks sufficient analyst coverage to assume a reasonable level of market support. The five analysts tracked rate the stock as a Hold and view it as fairly valued, near the early June price points. 

Asana Insider Buys This Stock in Bulk 

Asana (NYSE: ASAN) operates and provides a platform for workflow management. Its business is growing in 2025 and transitioning to profits, possibly why CEO Dustin Moskovitz has been buying shares. He made ten buys during the period, bringing his holding to roughly 55% of the float and the bulk of insider holdings.

His buys are, however, compounded by increasing institutional activity and rising institutional interest. They own only 25% of the stock, but this makes the name tightly held, given the insider holdings. 

Short-sellers and analysts could be a problem for this market. The short interest isn’t astronomically high and decreased in the last report, but it remains elevated at 11% and is a headwind for the market. Analysts' coverage is solid, with 14 tracked, and they rate the stock as a Hold; however, the revision trend is leading to the low-end range and a double-digit decline in the stock price. 

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