General Counsel David Travin Sold A Bunch Of Shares In PJT Partners

Some PJT Partners Inc. (NYSE:PJT) shareholders may be a little concerned to see that the General Counsel, David Travin, recently sold a substantial US$709k worth of stock at a price of US$142 per share. Probably the most concerning element of the whole transaction is that the disposal amounted to 69% of their entire holding.

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PJT Partners Insider Transactions Over The Last Year

Over the last year, we can see that the biggest insider sale was by the Non-Independent Director, K. Cornwell, for US$1.9m worth of shares, at about US$124 per share. So it's clear an insider wanted to take some cash off the table, even below the current price of US$144. When an insider sells below the current price, it suggests that they considered that lower price to be fair. That makes us wonder what they think of the (higher) recent valuation. While insider selling is not a positive sign, we can't be sure if it does mean insiders think the shares are fully valued, so it's only a weak sign. We note that the biggest single sale was 87% of K. Cornwell's holding.

PJT Partners insiders didn't buy any shares over 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 PJT Partners

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Insider Ownership

For a common shareholder, it is worth checking how many shares are held by company insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. PJT Partners insiders own 4.4% of the company, currently worth about US$260m based on the recent share price. I like to see this level of insider ownership, because it increases the chances that management are thinking about the best interests of shareholders.

What Might The Insider Transactions At PJT Partners Tell Us?

An insider hasn't bought PJT Partners stock in the last three months, but there was some selling. And even if we look at the last year, we didn't see any purchases. But since PJT Partners is profitable and growing, we're not too worried by this. It is good to see high insider ownership, but the insider selling leaves us cautious. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. While conducting our analysis, we found that PJT Partners has 1 warning sign and it would be unwise to ignore it.

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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.