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.
Unity Software
The Trade: Unity Software Inc. U Director Aps Otee, David Helgason, Christoph Joachim Ante disposed a total of 300000 shares at an average price of $131.49. The insider received $39,446,887.19 as a result of the transaction.
What’s Happening: HiDef Inc. recently announced a collaboration with Unity.
What Unity Software Does: Unity Software operates a real-time 3D development platform. Its platform provides software solutions to create, run, and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices.
California Resources
The Trade: California Resources Corporation CRC 10% owner Goldentree Asset Management Lp, Goldentree Asset Management Llc, Steven Tananbaum sold a total of 100000 shares at an average price of $41.99. The insider received $4,199,000.00 from selling those shares.
What’s Happening: Keybanc maintained California Resources with an Overweight and raised the price target from $45 to $47.
What California Resources Does: California Resources produces oil and natural gas in California. At the end of 2018, the company reported net proved reserves of 618 million barrels of oil equivalent.
Nuance Communications
The Trade: Nuance Communications, Inc. NUAN Director Lloyd Carney sold a total of 11820 shares at an average price of $55.21. The insider received $652,613.66 as a result of the transaction.
What’s Happening: Nuance Communications recently said the US Department of Veterans Affairs is using Nuance Dragon Medical One Platform.
What Nuance Communications Does: Nuance Communications Inc is the pioneer in conversational AI innovations that bring intelligence to everyday work and life.
Interactive Brokers
The Trade: Interactive Brokers Group, Inc. IBKR Chairman Thomas Peterffy sold a total of 40000 shares at an average price of $61.90. The insider received $2,475,939.04 from selling those shares.
What’s Happening: Interactive Brokers Group recently announced the launch of cryptocurrency trading.
What Interactive Brokers Does: Interactive Brokers Group Inc, or IB, conducts broker-dealer agency business and proprietary trading business worldwide.
C3.ai
The Trade: C3.ai, Inc. AI CEO Thomas Siebel sold a total of 640866 shares at an average price of $49.13. The insider received $31,485,573.72 from selling those shares.
What’s Happening: C3 AI, the Enterprise AI application software company, recently announced the general availability of C3 AI CRM.
What C3.ai Does: C3.ai, incorporated in 2009, operates as an enterprise artificial intelligence (AI) software company in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally.
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