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.
Knight-Swift Transportation
The Trade: Knight-Swift Transportation Holdings Inc. (NYSE: KNX) Executive Chairman Kevin Knight disposed a total of 50000 shares at an average price of $56.76. The insider received $2,838,000.00 as a result of the transaction.
What’s Happening: The company recently company reported better-than-expected Q3 results.
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).
Palo Alto Networks
The Trade: Palo Alto Networks, Inc. (NASDAQ: PANW) EVP Chief Technology Officer Nir Zuk sold a total of 12000 shares at an average price of $507.28. The insider received $6,087,312.94 from selling those shares.
What’s Happening: Palo Alto Networks is expected to release the financial results for its fiscal first quarter 2022, ending October 31, 2021, on Thursday, November 18, 2021.
What Palo Alto Networks Does: Palo Alto Networks is a pure-play cybersecurity vendor that sells security appliances, subscriptions, and support into enterprises, government entities, and service providers.
Masimo
The Trade: Masimo Corporation (NASDAQ: MASI) CEO and Chairman Joe Kiani sold a total of 45842 shares at an average price of $291.15. The insider received $13,346,917.39 as a result of the transaction.
What’s Happening: The company recently posted upbeat quarterly results.
What Masimo Does: Masimo is an Irvine, California-based medical device business that focuses on noninvasive patient monitoring. It began by developing superior signal processing algorithms to measure blood oxygenation levels through pulse oximetry and has expanded this expertise into a wide range of measurements and applications.
Microsoft
The Trade: Microsoft Corporation (NASDAQ: MSFT) President and Vice Chairman Bradford L Smith sold a total of 55000 shares at an average price of $328.60. The insider received $18,073,049.50 from selling those shares.
What’s Happening: The company recently posted upbeat quarterly results.
What Microsoft Does: Microsoft develops and licenses consumer and enterprise software. It is known for its Windows operating systems and Office productivity suite.
Signet Jewelers
The Trade: Signet Jewelers Limited (NYSE: SIG) CEO Virginia Drosos sold a total of 25000 shares at an average price of $93.89. The insider received $2,347,232.50 from selling those shares.
What’s Happening: UBS recently initiated coverage on the stock with a Buy rating and a $140 price target..
What Signet Jewelers Does: Signet Jewelers Ltd is a retailer of diamond jewelry. Its merchandise mix includes bridal, fashion, watches and others.
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