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.
Integrated Media Technology
The Trade: Integrated Media Technology Limited IMTE 10% owner Lee Ying Chiu Herbert disposed a total of 1912811 shares at an average price of $2.21. The insider received $4,219,574.75 as a result of the transaction.
What’s Happening: The company’s shares dropped more than 13% over the past month.
What Integrated Media Technology Does: Integrated Media Technology Ltd is engaged in the development, sale, and distribution of autostereoscopic 3D display,
e.l.f. Beauty
The Trade: e.l.f. Beauty, Inc. ELF CEO Tarang Amin sold a total of 42561 shares at an average price of $29.28. The insider received $1,246,342.31 from selling those shares.
What’s Happening: The company, during August, reported better-than-expected results for its first quarter.
What e.l.f. Beauty Does: e.l.f. Beauty Inc 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.
Advanced Micro Devices
The Trade: Advanced Micro Devices, Inc. AMD Director John Edward Caldwell sold a total of 35000 shares at an average price of $102.65. The insider received $3,592,750.00 as a result of the transaction.
What’s Happening: Advanced Micro Devices recently reported that Alphabet's Google Cloud expanded the use of AMD EPYC processors with the preview of N2D Virtual Machines (VMs) powered by AMD EPYC 7003 Series processors.
What Advanced Micro Devices Does: Advanced Micro Devices designs microprocessors for the computer and consumer electronics industries.
Noble Corporation
The Trade: Noble Corporation NE 10% owner Pacific Investment Management Co Llc sold a total of 77301 shares at an average price of $27.83. The insider received $2,151,335.50 from selling those shares.
What’s Happening: Noble, during August, said it sees FY22 preliminary sales of $975 million to $1.05 billion.
What Noble Does: Noble Corp is an offshore drilling contractor for the oil and gas industry. The company operates under one segment namely, Contract Drilling Services.
HP Inc.
The Trade: HP Inc. HPQ President and CEO Enrique Lores sold a total of 34000 shares at an average price of $27.53. The insider received $936,020.00 from selling those shares.
What’s Happening: JP Morgan recently downgraded the stock from Overweight to Neutral and lowered its price target from $35 to $30.
What HP Does: HP Inc. is a leading provider of computers, printers, and printer supplies. The company's three operating business segments are its personal systems, containing notebooks, desktops, and workstations; and its printing segment which contains supplies, consumer hardware, and commercial hardware; and corporate investments.
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