When insiders sell shares, it indicates their concern in the company’s prospects or that they view the stock as being overpriced. Either way, this signals an opportunity to go short on the stock. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out Benzinga's insider transactions platform.
Levi Strauss
The Trade: Levi Strauss & Co. (NYSE: LEVI) EVP and Chief Commercial Officer Seth Ellison disposed a total of 23135 shares at an average price of $27.00. The insider received $624,645.00 as a result of the transaction.
What’s Happening: Levi Strauss & Co. indicated it is in the early stages of a new denim cycle, according to Wells Fargo.
What Levi Strauss Does: Levi Strauss & Co is involved in designing, marketing, and selling products that include jeans, casual and dresses pants, tops, shorts, skirts, jackets, footwear, and related accessories directly or through third parties and licensees for men, women, and children under Levi's, Dockers, Signature by Levi Strauss & Co. and Denizen brands.
Switch
The Trade: Switch, Inc. (NYSE: SWCH) President/CLO/Secretary Erin Thomas Morton sold a total of 200000 shares at an average price of $26.17. The insider received $5,234,705.07 from selling those shares.
What’s Happening: Switch, last month, reported better-than-expected Q2 sales and issued FY21 sales guidance above estimates.
What Switch Does: Switch is a US-based technology infrastructure company. It is engaged in designing, constructing, and operating hyper-scale data centers.
Microsoft
The Trade: Microsoft Corporation (NASDAQ: MSFT) EVP, Human Resources Kathleen T Hogan sold a total of 20000 shares at an average price of $298.68. The insider received $5,973,540.00 as a result of the transaction.
What’s Happening: Morgan Stanley raised the price target on Microsoft to $331 from $305, implying an 11.5% upside, and reiterated an Overweight.
What Microsoft Does: Microsoft develops and licenses consumer and enterprise software. It is known for its Windows operating systems and Office productivity suite.
Trimble
The Trade: Trimble Inc. (NASDAQ: TRMB) Director Steven Berglund sold a total of 161150 shares at an average price of $93.65. The insider received $15,091,697.50 from selling those shares.
What’s Happening: Trimble, last month, announced a new $750 million buyback program.
What Trimble Does: Trimble provides location-based solutions that are used in global positioning system (GPS), laser, optical and inertial technologies.
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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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