Have Insiders Sold Procore Technologies Shares Recently?
We wouldn't blame Procore Technologies, Inc. (NYSE:PCOR) shareholders if they were a little worried about the fact that Kevin O'Connor, the Independent Non-Executive Director recently netted about US$938k selling shares at an average price of US$60.99. However, that sale only accounted for 1.6% of their holding, so arguably it doesn't say much about their conviction.
Procore Technologies Insider Transactions Over The Last Year
Over the last year, we can see that the biggest insider sale was by the Independent Director, William Griffith, for US$15m worth of shares, at about US$72.30 per share. While insider selling is a negative, to us, it is more negative if the shares are sold at a lower price. The good news is that this large sale was at well above current price of US$58.01. So it may not tell us anything about how insiders feel about the current share price.
Insiders in Procore Technologies didn't buy any shares in the last year. The chart below shows insider transactions (by companies and individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!
View our latest analysis for Procore Technologies
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Does Procore Technologies Boast High Insider Ownership?
Many investors like to check how much of a company is owned by insiders. We usually like to see fairly high levels of insider ownership. It's great to see that Procore Technologies insiders own 9.9% of the company, worth about US$912m. I like to see this level of insider ownership, because it increases the chances that management are thinking about the best interests of shareholders.
So What Does This Data Suggest About Procore Technologies Insiders?
Insiders haven't bought Procore Technologies stock in the last three months, but there was some selling. And there weren't any purchases to give us comfort, over the last year. While insiders do own a lot of shares in the company (which is good), our analysis of their transactions doesn't make us feel confident about the company. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. Case in point: We've spotted 1 warning sign for Procore Technologies you should be aware of.
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.