Three directors at software as a service specialist dotDigital (LON:DOTD) have trimmed their holdings following a strong share price run and to meet strong institutional demand.
Chief executive Peter Simmonds, chief technical officer Simon Bird, and chief operating officer Ian ‘Tink’ Taylor disposed of 1.5mln shares each at 29.81p for £447,150.
The group, which is behind the popular dotMailer e-mail marketing tool and the dotSurvey online survey designer, has seen its shares rise 80% over the past six months.
Chief executive Peter Simmonds said: “We are once again delighted with the positive feedback we have received from both current shareholders and new institutions on this recent roadshow following the announcement of the company's interim results.
“We welcome the investment interest in dotDigital demonstrated by a number of highly regarded institutional investors which we believe further strengthens our shareholder base over the medium and longer term.”
After the share sales, Taylor now has a 14.42% stake, Bird 11.56% and Simmonds 3.43%.
The shares picked up 2.9% on Wednesday to 31p.