The Goodman Group (ASX: GMG) share price has been on form in 2023.
Since the start of the year, the ASX 200 industrial property share has gained a sizeable 16%.
Is it time to take profit?
As far as brokers are concerned, now is not the time for investors to be taking profit.
For example, analysts at Citi have recently reiterated their buy rating with a $24.30 price target.
Based on the current Goodman share price of $20.11, this implies potential upside of 20% for investors over the next 12 months.
And over at Macquarie, its analysts have an outperform rating and $23.18 price target, whereas Morgan Stanley has an overweight rating and $24.10 price target.
Plenty of reasons to not only hold onto its shares, but to buy them.
Insider selling
Not everyone is sitting patiently and waiting for this ASX 200 share to rise to the above-mentioned levels.
According to a change of director's interest notice, the company's executive director, Danny Peeters, has decided to cash in some of his holding.
The notice reveals that Peeters sold a total of 1 million Goodman shares through a series of on-market trades between 19 May and 25 May.
The director received a total consideration of $20,187,110.80, which equates to an average selling price of approximately $20.19 per share. This is broadly in line with where the ASX 200 share currently trades.
And while insider selling is more often than not seen as a bearish indicator, it is worth noting that Peeters still has plenty of skin in the game. He is left with a holding of 1.678 million Goodman shares and approximately 1.9 million performance rights.
