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: Zumiez Inc. ZUMZ Chairman Thomas Campion disposed a total of 40453 shares at an average price of $55.13. The insider received $2,230,173.89 as a result of the transaction.
- What’s Happening: Zumiez is expected to report fiscal third quarter 2021 financial results on Thursday, December 2, 2021.
- What Zumiez Does: Zumiez Inc is a United-States-based specialty retailer engaged in the sale of apparel, footwear, accessories, and hardgoods.
- The Trade: Vonage Holdings Corp. VG Director Jeffrey A Citron sold a total of 25000 shares at an average price of $20.41. The insider received $510,250.00 from selling those shares.
- What’s Happening: Baird recently downgraded Vonage Hldgs from Outperform to Neutral and lowered the price target from $22 to $21.
- What Vonage Holdings Does: Vonage Holdings is a North American technology company that provides cloud communication services to businesses and consumers.
- The Trade: The Children's Place, Inc. PLCE President and CEO Jane Elfers sold a total of 62259 shares at an average price of $104.09. The insider received $6,480,539.31 as a result of the transaction.
- What’s Happening: Children's Place recently reported better-than-expected Q3 EPS and sales results.
- What Children's Place Does: Children's Place Inc is a specialty retailer that sells accessories, footwear, and other items for children. The company has over a thousand stores in North America and also sells through its website and wholesale.
- The Trade: Bristol-Myers Squibb Company BMY EVP and Chief Information Officer Paul von Autenried sold a total of 51134 shares at an average price of $57.18. The insider received $2,923,617.93 from selling those shares.
- What’s Happening: The European Commission recently approved Bristol Myers Squibb’s Zeposia (ozanimod) for ulcerative colitis (UC).
- 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: PriceSmart, Inc. PSMT 10% owner Price Philanthropies Foundation sold a total of 20000 shares at an average price of $80.22. The insider received $1,604,454.26 from selling those shares.
- What’s Happening: Pricesmart, last month, reported worse-than-expected Q4 EPS results.
- What PriceSmart Does: Pricesmart is a company principally engaged in operating U.S.-style membership shopping warehouse clubs that offer consumer goods at low prices.
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