This Insider Has Just Sold Shares In Procore Technologies

Some Procore Technologies, Inc. (NYSE:PCOR) shareholders may be a little concerned to see that the Independent Non-Executive Director, Kevin O’Connor, recently sold a substantial US$3.5m worth of stock at a price of US$62.04 per share. However, it's crucial to note that they remain very much invested in the stock and that sale only reduced their holding by 3.9%.

See our latest analysis for Procore Technologies

Procore Technologies Insider Transactions Over The Last Year

The Founder, Craig Courtemanche, made the biggest insider sale in the last 12 months. That single transaction was for US$4.8m worth of shares at a price of US$73.90 each. While we don't usually like to see insider selling, it's more concerning if the sales take place at a lower price. The silver lining is that this sell-down took place above the latest price (US$61.40). So it may not tell us anything about how insiders feel about the current share price.

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!

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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. A high insider ownership often makes company leadership more mindful of shareholder interests. It's great to see that Procore Technologies insiders own 7.2% of the company, worth about US$630m. 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. And there weren't any purchases to give us comfort, over the last year. It is good to see high insider ownership, but the insider selling leaves us cautious. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Procore Technologies. While conducting our analysis, we found that Procore Technologies has 3 warning signs and it would be unwise to ignore these.

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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.