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: Twitter, Inc.. TWTR Chief Accounting Officer Robert Kaiden disposed a total of 10198 shares at an average price of $54.26. The insider received $553,318.48 as a result of the transaction.
What’s Happening: The company’s shares dropped around 7% over the previous month.
What Twitter Does: Twitter operates as a platform for public self-expression and conversation in real time United States, Japan, and internationally.
Smartsheet
The Trade: Smartsheet Inc. SMAR Director Geoffrey T Barker sold a total of 11500 shares at an average price of $70.04. The insider received $805,425.01 from selling those shares.
What’s Happening: Smartsheet has been named to Inc. magazine’s first annual list of Best-Led Companies.
What Smartsheet Does: Smartsheet Inc. provides cloud-based platform for execution of work.
Ocugen
The Trade: Ocugen, Inc. OCGN Director Junge Zhang sold a total of 149700 shares at an average price of $15.75. The insider received $2,357,775.00 as a result of the transaction.
What’s Happening: WHO's Technical Advisory Group has recommended the Emergency Use Listing status for Bharat Biotech's COVID-19, Covaxin. Ocugen is the U.S. partner for the India-made vaccine.
What Ocugen Does: Ocugen, Inc., a clinical-stage biopharmaceutical company, focuses on the developing gene therapies to cure blindness diseases.
Coinbase Global
The Trade: Coinbase Global, Inc. COIN Director Frederick Ernest Ehrsam III sold a total of 77562 shares at an average price of $333.35. The insider received $25,855,001.82 from selling those shares.
What’s Happening: The company is expected to release quarterly results on November 9, 2021.
What Coinbase Global Does: Coinbase Global provides financial infrastructure and technology for the cryptoeconomy.
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