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.
Centene
The Trade: Centene Corporation (NYSE: CNC) Director Richard Gephardt disposed a total of 20220 shares at an average price of $70.00. The insider received $1,415,400.00 as a result of the transaction.
What’s Happening: The company recently company reported better-than-expected Q3 results.
What Centene Does: Centene is a managed-care organization focused on government-sponsored healthcare plans, including Medicaid, Medicare, and the individual exchanges.
PayPal
The Trade: PayPal Holdings, Inc. (NASDAQ: PYPL) CEO and President Daniel H Schulman sold a total of 10000 shares at an average price of $234.53. The insider received $2,345,287.61 from selling those shares.
What’s Happening: PayPal recently announced it is not pursuing an acquisition of Pinterest at this time.
What PayPal Does: PayPal was spun off from eBay in 2015 and provides electronic payment solutions to merchants and consumers, with a focus on online transactions.
Advanced Micro Devices
The Trade: Advanced Micro Devices, Inc. (NASDAQ: AMD) EVP and CSO Paul Darren Grasby sold a total of 13013 shares at an average price of $121.71. The insider received $1,583,825.28 as a result of the transaction.
What’s Happening: Northland Capital Markets downgraded Advanced Micro Devices from Outperform to Market Perform and announced a $120 price target.
What AMD Does: Advanced Micro Devices designs microprocessors for the computer and consumer electronics industries. The majority of the firm’s sales are in the personal computer and data center markets via CPUs and GPUs.
A. O. Smith
The Trade: A. O. Smith Corporation (NYSE: AOS) Director Ronald D Brown sold a total of 15000 shares at an average price of $74.41. The insider received $1,116,135.00 from selling those shares.
What’s Happening: A.O. Smith recently reported better-than-expected Q3 results and raised FY21 guidance.
What A. O. Smith Does: A.O. Smith Corporation manufactures and markets comprehensive lines of residential and commercial gas, gas tankless, and electric water heaters. Supplementary products include water heating equipment, condensing and noncondensing boilers, and water system tanks.
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