SVP, Corporate Controller & Principal Accounting Officer Of Procore Technologies Sold 40% Of Their Shares

We wouldn't blame Procore Technologies, Inc. (NYSE:PCOR) shareholders if they were a little worried about the fact that William Fleming, the SVP, Corporate Controller & Principal Accounting Officer recently netted about US$1.6m selling shares at an average price of US$78.77. That sale reduced their total holding by 40% which is hardly insignificant, but far from the worst we've seen.

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The Last 12 Months Of Insider Transactions At Procore Technologies

Over the last year, we can see that the biggest insider sale was by the Founder & Chairman, Craig Courtemanche, for US$1.6m worth of shares, at about US$71.36 per share. That means that even when the share price was below the current price of US$75.49, an insider wanted to cash in some shares. 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. Please do note, however, that sellers may have a variety of reasons for selling, so we don't know for sure what they think of the stock price. This single sale was just 0.6% of Craig Courtemanche's stake.

Procore Technologies insiders didn't buy any shares over the last year. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

Check out our latest analysis for Procore Technologies

If you like to buy stocks that insiders are buying, rather than selling, then you might just love this free list of companies. (Hint: Most of them are flying under the radar).

Does Procore Technologies Boast High Insider Ownership?

Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. Procore Technologies insiders own 8.7% of the company, currently worth about US$1.0b 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.

So What Does This Data Suggest About Procore Technologies Insiders?

Insiders sold stock recently, but they haven't been buying. Looking to the last twelve months, our data doesn't show any insider buying. The company boasts high insider ownership, but we're a little hesitant, given the history of share sales. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Procore Technologies. At Simply Wall St, we found 1 warning sign for Procore Technologies that deserve your attention before buying any shares.

But note: Procore Technologies may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE 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 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.