Usually, when one insider buys stock, it might not be a monumental event. But when multiple insiders are buying like they did in the case of Progressive Planet Solutions Inc. (CVE:PLAN), that sends out a positive message to the company's shareholders.
While we would never suggest that investors should base their decisions solely on what the directors of a company have been doing, logic dictates you should pay some attention to whether insiders are buying or selling shares.
See our latest analysis for Progressive Planet Solutions
The Last 12 Months Of Insider Transactions At Progressive Planet Solutions
The Chairman, Stephen Harpur, made the biggest insider sale in the last 12 months. That single transaction was for CA$357k worth of shares at a price of CA$0.43 each. We generally don't like to see insider selling, but the lower the sale price, the more it concerns us. The good news is that this large sale was at well above current price of CA$0.32. So it may not shed much light on insider confidence at current levels. The only individual insider seller over the last year was Stephen Harpur. Notably Stephen Harpur was also the biggest buyer, having purchased CA$522k worth of shares.
In the last twelve months insiders purchased 1.65m shares for CA$522k. But they sold 830.40k shares for CA$357k. In the last twelve months there was more buying than selling by Progressive Planet Solutions insiders. They paid about CA$0.32 on average. Although they bought at below the recent share price, it is good to see that insiders are willing to invest in the company. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of growing companies that insiders are buying.
Insiders At Progressive Planet Solutions Have Bought Stock Recently
There was some insider buying at Progressive Planet Solutions over the last quarter. Insiders purchased CA$26k worth of shares in that period. It's great to see that insiders are only buying, not selling. But the amount invested in the last three months isn't enough for us too put much weight on it, as a single factor.
Insider Ownership
Many investors like to check how much of a company is owned by 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 appears that Progressive Planet Solutions insiders own 33% of the company, worth about CA$11m. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.