This Insider Has Just Sold Shares In Procore Technologies \

We wouldn't blame Procore Technologies, Inc. (NYSE:PCOR) shareholders if they were a little worried about the fact that Craig Courtemanche, the Founder recently netted about US$1.7m selling shares at an average price of US$57.95. However, it's crucial to note that they remain very much invested in the stock and that sale only reduced their holding by 0.7%.

See our latest analysis for Procore Technologies

Procore Technologies Insider Transactions Over The Last Year

In fact, the recent sale by Founder Craig Courtemanche was not their only sale of Procore Technologies shares this year. They previously made an even bigger sale of -US$3.5m worth of shares at a price of US$64.25 per share. That means that an insider was selling shares at around the current price of US$58.69. While insider selling is a negative, to us, it is more negative if the shares are sold at a lower price. In this case, the big sale took place at around the current price, so it's not too bad (but it's still not a positive).

Procore Technologies insiders didn't buy any shares over the last year. The chart below shows insider transactions (by companies and 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!

If you are like me, then you will not want to miss this free list of growing companies that insiders are buying.

Insider Ownership Of Procore Technologies

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. It's great to see that Procore Technologies insiders own 6.5% of the company, worth about US$534m. Most shareholders would be happy to see this sort of insider ownership, since it suggests that management incentives are well aligned with other 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. 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. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. To help with this, we've discovered 4 warning signs (1 can't be ignored!) that you ought to be aware of before buying any shares in Procore Technologies.

Of course Procore Technologies may not be the best stock to buy. So you may wish to see this free collection of high quality 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, but not derivative transactions.

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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.