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: Kindred Biosciences, Inc. KIN CEO Richard Chin disposed a total of 360000 shares at an average price of $9.21. The insider received $368,240.00 as a result of the transaction.
What’s Happening: Kindred Biosciences shares traded mostly flat during the previous month.
What Kindred Biosciences Does: Kindred Biosciences Inc is a biopharmaceutical company developing innovative biologics focused on saving and improving the lives of pets.
Thermo Fisher Scientific
The Trade: Thermo Fisher Scientific Inc. TMO Chairman and CEO Marc N Casper sold a total of 22325 shares at an average price of $535.59. The insider received $10,711,859.50 from selling those shares. The insider also bought a total of 2325 shares.
What’s Happening: Thermo Fisher Scientific, last week, reported upbeat results for its second quarter and raised FY21 guidance.
What Thermo Fisher Scientific Does: Thermo Fisher Scientific sells scientific instruments and laboratory equipment, diagnostics consumables, and life science reagents.
The Trade: Align Technology, Inc. ALGN President and CEO Joseph Hogan sold a total of 66667 shares at an average price of $699.54. The insider received $46,636,435.67 as a result of the transaction.
What’s Happening: Align Technology recently reported a $75 million buyback program.
What Align Technology Does: Align Technology is a medical (dental) device company primarily known for the Invisalign system, which is an alternative to traditional braces to correct a wide range of malocclusions.
The Trade: Netflix, Inc. NFLX Director Jay C Hoag sold a total of 437518 shares at an average price of $510.16. The insider received $479,041.65 from selling those shares. The insider also acquired a total of 103750 shares.
What’s Happening: Netflix become the first major Hollywood studio to mandate COVID-19 vaccinations for the actors in its U.S.-based productions and the crew members who come into contact with them while on a set..
What Netflix Does: Netflix's primary business is a streaming video on demand service now available in almost every country worldwide except China.
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