With the founders still owning more than 50% of the shares they need to be careful how they go about reducing their holdings without spooking the market. That said the board has been pushing them to do this over the last few years.
The company is no longer as reliant on these two guys as it may have been 10 years ago - I imagine that the development team in Germany are the main value driver these days.
I see the founders selling down in an orderly way as a positive as it improves stock liquidity.
Any future takeover will still need to get the guys on board until such time as their combined holdings are way lower than current.
PME Price at posting:
$45.11 Sentiment: Hold Disclosure: Held
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