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.
Alphabet
The Trade: Alphabet Inc. GOOG Director Kavitark Ram Shriram disposed a total of 2500 shares at an average price of 2,988.41. The insider received $7,471,037.01 as a result of the transaction.
What’s Happening: Alphabet recently launched an artificial intelligence company Isomorphic Labs, to discover new drugs, Financial Times reports.
What Alphabet Does: Alphabet is a holding company, with Google, the Internet media giant, as a wholly owned subsidiary. Google generates 99% of Alphabet revenue, of which more than 85% is from online ads.
Under Armour
The Trade: Under Armour, Inc. UA Executive Chairman and Brand Chief Kevin A Plank sold a total of 863322 shares at an average price of $21.81. The insider received $18,829,913.75 from selling those shares.
What’s Happening: Under Armour recently reported better-than-expected Q3 EPS and sales results and raised guidance.
What Under Armour Does: Under Armour develops, markets, and distributes athletic apparel, footwear, and accessories in North America and other territories.
Netflix
The Trade: Netflix, Inc. NFLX Director Jay C Hoag sold a total of 642511 shares at an average price of $655.13. The insider received $5,363,521.94 as a result of the transaction. The insider also acquired a total of 119571 shares.
What’s Happening: Netflix, last month, reported third-quarter revenue of $7.48 billion. The company reported earnings of $3.19 per share, which beat the Street consensus of $2.56 for the quarter.
What Netflix Does: Netflix's primary business is a streaming video on demand service now available in almost every country worldwide except China.
Jabil
The Trade: Jabil Inc. JBL EVP, CFO Michael Dastoor sold a total of 22641 shares at an average price of $64.73. The insider received $1,465,462.23 from selling those shares.
What’s Happening: Jabil, in September, reported worse-than-expected Q4 sales.
What Jabil Does: Jabil Inc is a United States-based company engaged in providing manufacturing services and solutions. It provides comprehensive electronics design, production and product management services to companies in various industries and end markets.
La-Z-Boy
The Trade: La-Z-Boy Incorporated LZB Director Kurt Darrow sold a total of 75124 shares at an average price of $35.45. The insider received $2,663,107.63 from selling those shares.
What’s Happening: La-Z-Boy is expected to report its fiscal 2022 second-quarter results on Tuesday, November 16, 2021.
What La-Z-Boy Does: La-Z-Boy Inc is a U.S.-based company that manufactures, distributes, and retails upholstery furniture products. It is a producer of reclining chairs and distributors of residential furniture in the U.S.
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