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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.
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Humana
The Trade: Humana Inc. (NYSE:HUM) President and CEO Bruce D Broussard disposed a total of 50006 shares at an average price of $454.70. The insider received $22,737,766.23 as a result of the transaction. The insider also acquired a total of 41285 shares.
What’s Happening: Humana, last week, reported worse-than-expected Q3 sales results and cut FY21 EPS guidance below estimates..
What Humana Does: Humana is one of the largest private health insurers in the U.S. with a focus on administering Medicare Advantage plans. The firm has built a niche specializing in government-sponsored programs, with nearly all its medical membership stemming from individual and group Medicare Advantage, Medicaid, and the military's Tricare program.
Coca-Cola
The Trade: The Coca-Cola Company (NYSE:KO) President and COO Brian John Smith sold a total of 37000 shares at an average price of $56.64. The insider received $2,095,731.80 from selling those shares.
What’s Happening: Coca-Cola recently acquired the remaining 85% stake in BODYARMOR, a line of sports performance and hydration beverages, for $5.6 billion in cash.
What Coca-Cola Does: Coca-Cola is the largest nonalcoholic beverage entity in the world, owning and marketing some of the leading carbonated beverage brands, such as Coke, Fanta, and Sprite, as well as nonsparkling brands, such as Minute Maid, Georgia Coffee, Costa, and Glaceau.
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CF Industries
The Trade: CF Industries Holdings, Inc. (NYSE:CF) Senior Vice President, General Counsel and Secretary Douglas C Barnard sold a total of 35207 shares at an average price of $62.65. The insider received $2,205,725.59 as a result of the transaction.
What’s Happening: The company recently posted downbeat quarterly earnings.
What CF Industries Does: CF Industries is a leading producer and distributor of nitrogen fertilizers. The company operates seven nitrogen facilities in North America and holds joint-venture interests in further production capacity in the United Kingdom and Trinidad and Tobago.
HP
The Trade: HP Inc (NYSE:HPQ) Chief Commercial Officer Christoph Schell sold a total of 157751 shares at an average price of $32.06. The insider received $5,057,756.74 from selling those shares.
What’s Happening: HP, last month, issued FY22 EPS guidance above estimates and raised its dividend.
What HP Does: HP Inc. is a leading provider of computers, printers, and printer supplies. The company's three operating business segments are its personal systems, containing notebooks, desktops, and workstations; and its printing segment which contains supplies, consumer hardware, and commercial hardware; and corporate investments.
The Trade: Twitter, Inc (NYSE:TWTR) Chief Accounting Officer Robert Kaiden sold a total of 10637 shares at an average price of $53.35. The insider received $567,478.03 from selling those shares.
What’s Happening: Twitter, last month, reported third-quarter revenue of $1.28 billion.
What Twitter Does: Twitter is an open distribution platform for and a conversational platform around short-form text (a maximum of 280 characters), image, and video content. Its users can create different social networks based on their interests, thereby creating an interest graph.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.