Anyone interested in Progress Software Corporation (NASDAQ:PRGS) should probably be aware that the Independent Director, Charles Kane, recently divested US$337k worth of shares in the company, at an average price of US$44.91 each. On the bright side, that sale was only 8.7% of their holding, so we doubt it’s very meaningful, on its own.
The Last 12 Months Of Insider Transactions At Progress Software
In the last twelve months, the biggest single sale by an insider was when the Independent Non-Executive Chairman of the Board, John Egan, sold US$2.0m worth of shares at a price of US$45.30 per share. That means that an insider was selling shares at around the current price of US$45.21. While we don’t usually like to see insider selling, it’s more concerning if the sales take place at a lower price. Given that the sale took place at around current prices, it makes us a little cautious but is hardly a major concern.
Progress Software insiders didn’t buy any shares over the last year. The chart below shows insider transactions (by individuals) over the last year. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
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Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. Progress Software insiders own about US$24m worth of shares. That equates to 1.2% of the company. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.
So What Do The Progress Software Insider Transactions Indicate?
An insider sold stock recently, but they haven’t been buying. Looking to the last twelve months, our data doesn’t show any insider buying. Insiders own shares, but we’re still pretty cautious, given the history of sales. We’re in no rush to buy! Of course, the future is what matters most. So if you are interested in Progress Software, you should check out this free report on analyst forecasts for the company.
If you would prefer to check out another company — one with potentially superior financials — then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.
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, but not derivative transactions.
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