We wouldn't blame Apogee Enterprises, Inc. (NASDAQ:APOG) shareholders if they were a little worried about the fact that Herbert Parker, the Independent Director recently netted about US$949k selling shares at an average price of US$60.35. That diminished their holding by a very significant 65%, which arguably implies a strong desire to reallocate capital.
The Last 12 Months Of Insider Transactions At Apogee Enterprises
In fact, the recent sale by Herbert Parker was the biggest sale of Apogee Enterprises 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$62.05, an insider wanted to cash in some shares. We generally consider it a negative if insiders have been selling, especially if they did so below the current price, because it implies that they considered a lower price to be reasonable. While insider selling is not a positive sign, we can't be sure if it does mean insiders think the shares are fully valued, so it's only a weak sign. This single sale was 65% of Herbert Parker's stake.
In the last year Apogee Enterprises insiders didn't buy any company stock. 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!
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Insider Ownership Of Apogee Enterprises
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. We usually like to see fairly high levels of insider ownership. Insiders own 2.4% of Apogee Enterprises shares, worth about US$33m. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.
So What Does This Data Suggest About Apogee Enterprises 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. Insiders own shares, but we're still pretty cautious, given the history of sales. We'd practice some caution before buying! So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. For example - Apogee Enterprises has 1 warning sign we think you should be aware of.
Of course Apogee Enterprises 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 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.