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: Guidewire Software, Inc. GWRE Director Marcus Ryu disposed a total of 45944 shares at an average price of $115.63. The insider received $5,312,324.42 as a result of the transaction.
What’s Happening: Guidewire Software, earlier during the month, reported Q4 revenue of $229.4 million, down 6% year-on-year, beating the analyst consensus of $222.4 million.
What Guidewire Software Does: Guidewire Software provides software solutions for property and casualty insurers.
The Trade: Bristol-Myers Squibb Company BMY Board Chair and CEO Giovanni Caforio sold a total of 25000 shares at an average price of $60.64. The insider received $1,516,000.00 from selling those shares.
What’s Happening: Onconova Therapeutics announced preliminary data from Phase 1/2a trial of rigosertib plus Bristol-Myers Squibb’s Opdivo (nivolumab) in advanced KRAS mutated non-small cell lung cancer (NSCLC).
What Bristol-Myers Squibb Does: Bristol-Myers Squibb discovers, develops, and markets drugs for various therapeutic areas, such as cardiovascular, oncology, and immune disorders.
The Trade: Electronic Arts Inc. EA CEO Andrew Wilson sold a total of 10000 shares at an average price of $127.63. The insider received $1,276,252.16 as a result of the transaction.
What’s Happening: Electronic Arts postponed the global launch of Battlefield 2042 to November 19, as expected by different sources.
What Electronic Arts Does: EA is one of the world's largest third-party video game publishers and has transitioned from a console-based video game publisher to the one of the largest publishers on consoles, PC, and mobile.
The Trade: CarGurus, Inc. CARG Executive Chairman Langley Steinert sold a total of 62196 shares at an average price of $31.26. The insider received $1,943,935.98 from selling those shares.
What’s Happening: CarGurus, last month, reported better-than-expected Q2 results.
What CarGurus Does: CarGurus Inc is a company that acts as an online automotive marketplace connecting buyers and sellers of new and used cars.
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