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: Pinterest, Inc. PINS Director Jeffrey Jordan disposed a total of 12000 shares at an average price of $58.61. The insider received $703,320.00 as a result of the transaction.
What’s Happening: Pinterest, last month, reported better-than-expected second-quarter financial results. The company reported 454 million monthly active users and average revenue per user of $1.32.
What Pinterest Does: Pinterest, founded in 2008, provides visual discovery engine in the United States and internationally.
Honeywell
The Trade: Honeywell International Inc. HON President and CEO, Honeywell Connected Enterprise Que Dallara sold a total of 10759 shares at an average price of $231.28. The insider received $2,488,341.52 from selling those shares.
What’s Happening: Copa Holdings subsidiary Copa Airlines recently selected Honeywell International to provide the Air Separation Module (ASM) kit for its fleet of Boeing 737 aircraft.
What Honeywell Does: Honeywell traces its roots to 1885 with Albert Butz's firm, Butz-Thermo Electric Regulator, which produced a predecessor to the modern thermostat. Today, Honeywell is a global multi-industry behemoth with one of the largest installed bases of equipment.
Arista Networks
The Trade: Arista Networks, Inc. ANET President and CEO Jayshree Ullal sold a total of 27000 shares at an average price of $375.69. The insider received $10,143,630.00 as a result of the transaction.
What’s Happening: Arista Networks, last week, reported stronger-than-expected quarterly results.
What Arista Networks Does: Arista Networks is a software and hardware provider for the networking solutions sector.
Roku
The Trade: Roku, Inc. ROKU SVP & GM of Platform Business Scott Rosenberg sold a total of 43060 shares at an average price of $389.77. The insider received $6,550,820.45 from selling those shares.
What’s Happening: Roku recently reported record revenue growth with a total of $645 million, up 81% year-over-year.
What Roku Does: Roku is the leading streaming platform in the U.S. by hours watched with over 40 billion hours of content streamed in 2019.
Goldman Sachs
The Trade: The Goldman Sachs Group, Inc. GS Director David Viniar sold a total of 10000 shares at an average price of $402.49. The insider received $4,024,937.54 as a result of the transaction.
What’s Happening: Goldman Sachs, last month, reported better-than-expected quarterly earnings.
What Goldman Sachs Does: Goldman Sachs is a leading global investment banking firm whose activities are organized into investment banking (20% of net revenue), global markets (40%), asset management (25%), and consumer and wealth management (15%) segments.
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