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 Non-Executive Director, William Griffith, recently sold a substantial US$15m worth of stock at a price of US$72.30 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 6.0%.

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The Last 12 Months Of Insider Transactions At Procore Technologies

In fact, the recent sale by William Griffith was the biggest sale of Procore Technologies shares made by an insider individual in the last twelve months, according to our records. That means that even when the share price was below the current price of US$74.13, 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. However, while insider selling is sometimes discouraging, it's only a weak signal. This single sale was just 6.0% of William Griffith's stake.

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. By clicking on the graph below, you can see the precise details of each insider transaction!

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).

Insider Ownership

I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. Procore Technologies insiders own about US$1.0b worth of shares (which is 8.9% of the company). This kind of significant ownership by insiders does generally increase the chance that the company is run in the interest of all shareholders.

So What Do The Procore Technologies Insider Transactions Indicate?

Insiders sold stock recently, but they haven't been buying. Looking to the last twelve months, our data doesn't show any insider buying. 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. You'd be interested to know, that we found 1 warning sign for Procore Technologies and we suggest you have a look.

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.