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.
Kratos Defense & Security
The Trade: Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) EVP and CFO Deanna H Lund disposed a total of 11500 shares at an average price of $22.65. The insider received $260,432.85 as a result of the transaction.
What’s Happening: RBC Capital initiated coverage on Kratos Defense & Security with an Outperform rating and announced a price target of $28.
What Kratos Defense & Security Does: Kratos Defense & Security Solutions Inc develops and fields transformative, affordable technology, platforms, and systems. Its segment is Kratos Government Solutions which includes microwave electronic products, satellite communications, training systems, modular systems, and defense and rocket support services and Unmanned Systems segment.
Moderna
The Trade: Moderna, Inc. (NASDAQ: MRNA) CEO Stephane Bancel sold a total of 23000 shares at an average price of $335.53. The insider received $6,375,100.00 from selling those shares.
What’s Happening: Deutsche Bank, on Friday, initiated coverage on the stock with a Sell rating and a $250 price target.
What Moderna Does: Moderna is a commercial-stage biotech that was founded in 2010 and had its initial public offering in December 2018. The firm's mRNA technology was rapidly validated with its COVID-19 vaccine, which was authorized in the United States in December 2020.
General Mills
The Trade: General Mills, Inc. (NYSE: GIS) Group President Sean N Walker sold a total of 4894 shares at an average price of $62.76. The insider received $307,147.93 as a result of the transaction.
What’s Happening: General Mills, last month, reported first-quarter FY22 net sales growth of 4% year-on-year, to $4.54 billion.
What General Mills Does: General Mills is a leading global packaged food company that produces snacks, cereal, convenient meals, yogurt, dough, baking mixes and ingredients, pet food, and superpremium ice cream.
Knight-Swift Transportation
The Trade: Knight-Swift Transportation Holdings Inc. (NYSE: KNX) Vice Chairman Gary Knight sold a total of 50000 shares at an average price of $55.00. The insider received $2,750,000.00 from selling those shares.
What’s Happening: Knight-Swift Transportation recently posted a big third-quarter result, beating analysts' forecasts handily and raising its full-year 2021 guidance.
What Knight-Swift Transportation Does: Knight-Swift Transportation is by far the largest asset-based full-truckload carrier in the United States. About 80% of revenue derives from asset-based truckload shipping operations (including for-hire dry van, refrigerated, and dedicated contract)
Lincoln National
The Trade: Lincoln National Corporation (NYSE: LNC) President and CEO Dennis Glass sold a total of 150000 shares at an average price of $75.08. The insider received $11,262,000.00 from selling those shares.
What’s Happening: Morgan Stanley recently maintained Lincoln National with an Overweight and raised the price target from $75 to $80.
What Lincoln National Does: Founded in 1905, Philadelphia-based Lincoln National offers individual and group insurance, retirement, and investment products in the United States and the United Kingdom.
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