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.
Humana
The Trade: Humana Inc. (NYSE: HUM) Director David A. Jones Jr. disposed a total of 4800 shares at an average price of $401.00. The insider received $1,924,800.00 as a result of the transaction.
What’s Happening: Rumors are swirling, again, that Humana is interested in buying Medicaid managed-care company Centene.
What Humana Does: Humana is one of the largest private health insurers in the U.S. with a focus on administering Medicare Advantage plans.
ZoomInfo Technologies
The Trade: ZoomInfo Technologies Inc. (NASDAQ: ZI) Director Ta Atlantic Pacific Viib Lp sold a total of 464877 shares at an average price of $68.12. The insider received $31,669,652.65 from selling those shares.
What’s Happening: Barclays, last week, upgraded ZoomInfo Technologies from Equal-Weight to Overweight and raised the price target from $66 to $83.
What ZoomInfo Technologies Does: ZoomInfo Technologies provides a go-to-market intelligence platform for sales and marketing teams.
Kellogg
The Trade: Kellogg Company (NYSE: K) 10% owner Kellogg W K Foundation Trust sold a total of 83334 shares at an average price of $63.43. The insider received $5,286,075.62 as a result of the transaction.
What’s Happening: Kellogg, earlier during the month, disclosed a reorganization plan for its North America supply chain network.
What Kellogg Does: Founded in 1906, Kellogg is a leading global manufacturer and marketer of cereal, cookies, crackers, and other packaged foods.
Airbnb
The Trade: Airbnb, Inc. (NASDAQ: ABNB) Director Jeffrey Jordan sold a total of 25000 shares at an average price of $165.27. The insider received $4,131,740.00 from selling those shares.
What’s Happening: Goldman Sachs recently initiated coverage on the stock with a Sell rating and a $132 price target.
What Airbnb Does: Started in 2007, Airbnb is the world's largest online alternative accommodation travel agency, also offering booking services for boutique hotels and experiences.
BigCommerce
The Trade: BigCommerce Holdings, Inc. (NASDAQ: BIGC) CFO Robert Alvarez sold a total of 30000 shares at an average price of $56.61. The insider received $1,698,362.52 from selling those shares.
What’s Happening: Bridgeline Digital announced an investment ramp-up in their Hawksearch BigCommerce Integration.
What BigCommerce Does: BigCommerce Holdings Inc is engaged in offering Software-as-a-service (SaaS) e-commerce platform.
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