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.
ZoomInfo Technologies
The Trade: ZoomInfo Technologies Inc. (NASDAQ: ZI) Chief Operating Officer Christopher Joseph Hays disposed a total of 226000 shares at an average price of $64.48. The insider received $14,572,491.60 as a result of the transaction.
What’s Happening: ZoomInfo, last month, priced 20 million share offering via TA Associates, The Carlyle Group, 22C Capital at $63 per share.
What ZoomInfo Technologies Does: ZoomInfo Technologies Inc provides a go-to-market intelligence platform for sales and marketing teams.
Kraft Heinz
The Trade: The Kraft Heinz Company (NASDAQ: KHC) Chief Procurement Officer Eloi Marcos Lima sold a total of 41929 shares at an average price of $36.44. The insider received $1,527,989.20 from selling those shares.
What’s Happening: Kraft Heinz recently announced, based on the performance to date, it continues to expect to deliver 2021 adj. EBITDA ahead of $6.1 billion.
What Kraft Heinz Does: In July 2015, Kraft merged with Heinz to create the third- largest food and beverage manufacturer in North America behind PepsiCo and Nestle and the fifth- largest player in the world.
Vonage Holdings
The Trade: Vonage Holdings Corp. (NASDAQ: VG) Director Jeffrey A Citron sold a total of 81900 shares at an average price of $15.35. The insider received $1,257,510.00 as a result of the transaction.
What’s Happening: According to a Bloomberg report, the company is said to work with advisors on a review and possible sale..
What Vonage Holdings Does: Vonage Holdings is a North American technology company that provides cloud communication services to businesses and consumers.
Invesco
The Trade: Invesco Ltd. (NYSE: IVZ) Senior Managing Director Shing Tak Andrew lo sold a total of 150000 shares at an average price of $24.91. The insider received $3,736,500.00 from selling those shares.
What’s Happening: Invesco, last month, filed with the U.S. Securities and Exchange Commission for a new exchange-traded product titled “Invesco Bitcoin Strategy ETF.”
What Invesco Does: Invesco provides investment management services to retail (70% of managed assets) and institutional (30%) clients.
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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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