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.
The Trade: Snap Inc SNAP CEO Evan Spiegel disposed a total of 1495998 shares at an average price of $74.79. The insider received $75,004,752.39 as a result of the transaction.
What’s Happening: Snap recently reported better-than-expected Q2 results and issued Q3 sales guidance above estimates.
What Snap Does: Snap, which refers to itself as a camera company, has one of the most popular social networking apps, Snapchat, in developed regions such as North America and Europe.
The Trade: Zynga Inc ZNGA Director Mark Pincus sold a total of 525402 shares at an average price of $10.26. The insider received $5,388,904.50 from selling those shares.
What’s Happening: Zynga is scheduled to report its quarterly earnings on August 5, 2021. The company’s stock dropped around 7% during the previous month.
What Zynga Does: Zynga Inc is a company that develops, markets, and operates social games as live services played on mobile platforms, such as iOS and Android, and social networking sites, such as Facebook.
The Trade: Moderna, Inc. MRNA CEO Stephane Bancel sold a total of 23000 shares at an average price of $342.44. The insider received $6,506,280.00 as a result of the transaction.
What’s Happening: Moderna renegotiated its vaccine supply contract with the European Union, the FT reported Sunday.
What Moderna Does: Moderna’s mRNA technology was rapidly validated with its COVID-19 vaccine, which was authorized in the United States in December 2020.
Booz Allen Hamilton
The Trade: Booz Allen Hamilton Holding Corp BAH EVP, CFO and Treasurer Lloyd Howell Jr. sold a total of 21445 shares at an average price of $90.20. The insider received $1,934,283.01 from selling those shares.
What’s Happening: Booz Allen, last week, reported first-quarter FY22 revenue growth of 1.74% year-on-year, to $1.99 billion, missing the analyst consensus of $2.01 billion. However, the company’s earnings exceeded market views.
What Booz Allen Hamilton Does: Booz Allen Hamilton is a provider of management consulting services to the U.S. government.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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