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: LegalZoom.com, Inc. LZ Chief Financial Officer Bertram Noel Watson disposed a total of 69466 shares at an average price of $15.65. The insider received $1,087,351.30 as a result of the transaction.
- What’s Happening: Morgan Stanley maintained LegalZoom.com with an Equal-Weight and lowered the price target from $28 to $19.
- What LegalZoom.com Does: LegalZoom.com Inc is an online provider of services that meet the legal needs of small businesses and consumers in the United States
- The Trade: Arvinas, Inc. ARVN Director Liam Ratcliffe sold a total of 355705 shares at an average price of $67.00. The insider received $23,833,380.68 from selling those shares.
- What’s Happening: Arvinas and Pfizer recently posted updated data from Phase 1 dose-escalation trial of ARV-471 for locally advanced or metastatic ER-positive/human epidermal growth factor receptor 2 (HER2)-negative breast cancer (ER+/HER2-).
- What Arvinas Does: Arvinas Inc is a United States-based private biopharmaceutical company focused on developing first-in-class protein degradation therapeutics for cancers and other difficult-to-treat diseases.
- The Trade: Marvell Technology, Inc. MRVL CEO and President Matthew Murphy sold a total of 30000 shares at an average price of $85.98. The insider received $2,579,400.00 as a result of the transaction.
- What’s Happening: Marvell recently introduced industry's first 50G PAM4 DSP chipset for next generation 5G RAN optical fronthaul.
- What Marvell Technology Does: Marvell Technology is a leading fabless chipmaker focused on networking and storage applications. Marvell serves the data center, carrier, enterprise, automotive, and consumer end markets with processors, optical interconnections, application-specific integrated circuits (ASICs), and merchant silicon for Ethernet applications.
Hewlett Packard Enterprise
- The Trade: Hewlett Packard Enterprise Company HPE SVP & GM, HPC & AI Business Group Justin Hotard sold a total of 40012 shares at an average price of $14.55. The insider received $582,174.60 from selling those shares.
- What’s Happening: Hewlett Packard Enterprise recently reported worse-than-expected Q4 sales results.
- What Hewlett Packard Enterprise Does: Hewlett Packard Enterprise is a supplier of IT infrastructure products and services. The company operates as three major segments.
- The Trade: Ameren Corporation AEE Chairman, President and CEO Warner L Baxter sold a total of 68300 shares at an average price of $87.31. The insider received $4,976,670.00 from selling those shares.
- What’s Happening: BMO Capital recently maintained Ameren with an Outperform and raised the price target from $85 to $95.
- What Ameren Does: Ameren owns rate-regulated generation, transmission, and distribution networks that deliver electricity and natural gas in Missouri and Illinois. It serves nearly 2.5 million electricity customers and roughly 1.0 million natural gas customers.
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