Some Old Dominion Freight Line, Inc. (NASDAQ:ODFL) shareholders may be a little concerned to see that the Director, Greg Gantt, recently sold a substantial US$4.2m worth of stock at a price of US$192 per share. That sale reduced their total holding by 20% which is hardly insignificant, but far from the worst we've seen.

The Last 12 Months Of Insider Transactions At Old Dominion Freight Line

In the last twelve months, the biggest single sale by an insider was when the Executive Chairman of the Board, David Congdon, sold US$10m worth of shares at a price of US$195 per share. So it's clear an insider wanted to take some cash off the table, even slightly below the current price of US$198. 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. 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. We note that the biggest single sale was only 0.7% of David Congdon's holding.

Old Dominion Freight Line insiders didn't buy any shares over the last year. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!

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Insider Ownership

Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. A high insider ownership often makes company leadership more mindful of shareholder interests. It's great to see that Old Dominion Freight Line insiders own 8.2% of the company, worth about US$3.4b. 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 Does This Data Suggest About Old Dominion Freight Line Insiders?

Insiders haven't bought Old Dominion Freight Line stock in the last three months, but there was some selling. Looking to the last twelve months, our data doesn't show any insider buying. The company boasts high insider ownership, but we're a little hesitant, given the history of share sales. 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.

Of course Old Dominion Freight Line 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.

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.