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.
Digital Realty Trust
- The Trade: Digital Realty Trust, Inc. DLR Exec VP: Strategic Advisor David Ruberg disposed a total of 50000 shares at an average price of $168.31. The insider received $8,415,500.00 as a result of the transaction.
- What’s Happening: RBC Capital recently maintained Digital Realty Trust with an Outperform and raised the price target from $175 to $176.
- What Digital Realty Trust Does: Digital Realty owns and operates nearly 300 data centers worldwide. It has more than 35 million rentable square feet across five continents.
- The Trade: Tesla, Inc. TSLA CEO Elon Musk sold a total of 299499 shares at an average price of $1,097.65. The insider received $328,744,683.49 from selling those shares.
- What’s Happening: Tesla has sought waivers for tariffs imposed on material imported to the United States from China, CNBC reported on Thursday, citing the electric vehicle maker’s public comments.
- What Tesla Does: Founded in 2003 and based in Palo Alto, California, Tesla is a vertically integrated sustainable energy company that also aims to transition the world to electric mobility by making electric vehicles.
- The Trade: Arista Networks, Inc. ANET Chairman, Chief Development Officer and Co-Founder Andreas Bechtolsheim sold a total of 200000 shares at an average price of $124.35. The insider received $24,869,096.86 as a result of the transaction.
- What’s Happening: Keybanc recently maintained Arista Networks with an Overweight and lowered the price target from $523 to $136.
- What Arista Networks Does: Arista Networks is a software and hardware provider for the networking solutions sector. Operating as one business unit, software, switching, and router products are targeted for high-performance networking applications, while service revenue comes from technical support. Customer markets include data centers, enterprises, service providers, and campuses.
- The Trade: Coinbase Global, Inc. COIN Director Frederick Ernest Ehrsam III sold a total of 80272 shares at an average price of $313.11. The insider received $20,261,742.13 from selling those shares.
- What’s Happening: Cathie Wood’s money managing firm Ark Invest further lowered its exposure in Coinbase Global on Thursday.
- What Coinbase Global Does: Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States. The company intends to be the safe and regulation-compliant point of entry for retail investors and institutions into the cryptocurrency economy.
- The Trade: Seagen Inc. SGEN Director Baker Brothers Life Sciences Lp sold a total of 394895 shares at an average price of $160.54. The insider received $63,396,391.30 from selling those shares.
- What’s Happening: The company, during October, reported a Q3 loss of $1.61 per share.
- What Seagen Does: Seagen Inc. (formerly known as Seattle Genetics) is a biotech firm that develops and commercializes therapies to treat cancers.
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