Those following along with Public Storage (NYSE:PSA) will no doubt be intrigued by the recent purchase of shares by insider Tamara Gustavson, who spent a stonking US$8.1m on stock at an average price of US$218. While that only increased their holding size by 0.2%, it is still a big swing by our standards.
Public Storage Insider Transactions Over The Last Year
Notably, that recent purchase by Tamara Gustavson is the biggest insider purchase of Public Storage shares that we’ve seen in the last year. That implies that an insider found the current price of US$221 per share to be enticing. That means they have been optimistic about the company in the past, though they may have changed their mind. We do always like to see insider buying, but it is worth noting if those purchases were made at well below today’s share price, as the discount to value may have narrowed with the rising price. Happily, the Public Storage insiders decided to buy shares at close to current prices.
Over the last year, we can see that insiders have bought 38.93k shares worth US$8.5m. But insiders sold 3.32k shares worth US$667k. In the last twelve months there was more buying than selling by Public Storage insiders. The chart below shows insider transactions (by companies and individuals) over the last year. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
Public Storage is not the only stock that insiders are buying. For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.
Does Public Storage Boast High Insider Ownership?
For a common shareholder, it is worth checking how many shares are held by company insiders. We usually like to see fairly high levels of insider ownership. Public Storage insiders own 13% of the company, currently worth about US$5.2b based on the recent share price. 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 Do The Public Storage Insider Transactions Indicate?
The recent insider purchases are heartening. We also take confidence from the longer term picture of insider transactions. Along with the high insider ownership, this analysis suggests that insiders are quite bullish about Public Storage. Nice! Of course, the future is what matters most. So if you are interested in Public Storage, you should check out this free report on analyst forecasts for the company.
But note: Public Storage 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, but not derivative transactions.
This article by Simply Wall St is general in nature. 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.