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.
Integra LifeSciences
The Trade: Integra LifeSciences Holdings Corporation (NASDAQ: IART) 10% owner Tru StPartnership Lp disposed a total of 200000 shares at an average price of $69.81. The insider received $13,962,000.00 as a result of the transaction.
What’s Happening: Integra LifeSciences bamed Jan De Witte as President and Chief Executive Officer.
What Integra LifeSciences Does: Integra Lifesciences Holdings Corp is a New Jersey-based medical equipment company focused on developing products for regenerative therapy, extremity orthopedics, and neurosurgical applications.
Fifth Third Bancorp
The Trade: Fifth Third Bancorp (NASDAQ: FITB) EVP Kristine R Garrett sold a total of 10740 shares at an average price of $45.61. The insider received $489,851.40 from selling those shares.
What’s Happening: Multiple firms maintained bullish ratings and raised their price targets, respectively, on the stock following the company's Q3 earnings results.
What Fifth Third Bancorp Does: Fifth Third Bancorp is a diversified financial-services company headquartered in Cincinnati. The company has over $200 billion in assets and operates numerous full-service banking centers and ATMs throughout Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, and North Carolina.
Ocugen
The Trade: Ocugen, Inc. (NASDAQ: OCGN) Director Uday Kompella sold a total of 71371 shares at an average price of $10.12. The insider received $722,298.68 as a result of the transaction.
What’s Happening: Ocugen reported submission of Investigational New Drug Application with the U.S. FDA to initiate a Phase 3 clinical trial evaluating COVID-19 vaccine candidate COVAXIN.
What Ocugen Does: Ocugen is a clinical-stage biopharmaceutical company. It is focused on discovering, developing and commercializing a pipeline of innovative therapies that address rare and underserved eye diseases.
BlackRock
The Trade: BlackRock, Inc. (NYSE: BLK) Chairman and CEO Laurence Fink sold a total of 32682 shares at an average price of $927.64. The insider received $25,275,441.45 from selling those shares.
What’s Happening: BlackRock recently reported better-than-expected Q3 results.
What BlackRock Does: BlackRock is the largest asset managers in the world, with $9.464 trillion in AUM at the end of September 2021. Product mix is fairly diverse, with 53% of the firm's managed assets in equity strategies, 29% in fixed income, 8% in multi-asset class, 7% in money market funds, and 3% in alternatives.
UnitedHealth Group
The Trade: UnitedHealth Group Incorporated (NYSE: UNH) Director Stephen J Hemsley sold a total of 125000 shares at an average price of $451.46. The insider received $56,432,329.55 from selling those shares.
What’s Happening: UnitedHealth Group recently reported better-than-expected results and raised FY21 adjusted EPS guidance.
What UnitedHealth Group Does: UnitedHealth Group is the largest private health insurance provider in the United States, providing medical benefits to 48 million members across its U.S. and international businesses at the end of 2020.
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