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.
Moderna
The Trade: Moderna, Inc. MRNA CEO Stephane Bancel disposed a total of 23000 shares at an average price of $387.77. The insider received $7,367,680.00 as a result of the transaction.
What’s Happening: Moderna recently reported submission of data to European Medicines Agency for its COVID-19 vaccine booster dose.
What Moderna Does: Moderna is a commercial-stage biotech that was founded in 2010 and had its initial public offering in December 2018. The firm's mRNA technology was rapidly validated with its COVID-19 vaccine, which was authorized in the United States in December 2020.
e.l.f. Beauty
The Trade: e.l.f. Beauty, Inc. ELF CEO Tarang Amin sold a total of 67166 shares at an average price of $30.93. The insider received $2,077,582.06 from selling those shares.
What’s Happening: The company, last month, reported better-than-expected results for its first quarter.
What e.l.f. Beauty Does: e.l.f. Beauty is a cosmetic company based in the United States. The company offers cosmetic accessories for women which include eyeliner, mascara, false eyelashes, lipstick, the foundation for the face, moisturizer, cleanser, and other tools through its stores and e-commerce channels.
World Wrestling Entertainment
The Trade: World Wrestling Entertainment, Inc. WWE Executive Producer and Chief of Global Television Production Kevin Dunn sold a total of 23500 shares at an average price of $52.35. The insider received $1,230,225.00 as a result of the transaction.
What’s Happening: World Wrestling Entertainment, last month, announced plans to launch non-fungible tokens dedicated to its superstar wrestler John Cena.
What WWE Does: World Wrestling Entertainment Inc develops and produces television programming, pay-per-view programming, and live wrestling events.
NVIDIA
The Trade: NVIDIA Corporation NVDA Director A. Brooke Seawell sold a total of 20000 shares at an average price of $224.34. The insider received $4,486,715.42 from selling those shares.
What’s Happening: NVIDIA recently launched new research and tools to capture natural speech qualities by letting one train the AI system with one's voice, TechCrunch reported based on the Interspeech 2021 Conference.
What NVIDIA Does: Nvidia is the leading designer of graphics processing units that enhance the experience on computing platforms.
Trade Desk
The Trade: The Trade Desk, Inc. TTD Director Eric B Paley sold a total of 15000 shares at an average price of $79.94. The insider received $1,199,139.78 as a result of the transaction.
What’s Happening: The company, last month, reported mixed results for its second quarter.
What Trade Desk Does: The Trade Desk Inc is engaged in providing a technology platform for ad buyers.
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