5 Stocks Insiders Are Selling

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.

Eli Lilly

• The Trade: Eli Lilly and Company LLY 10% owner Lilly Endowment Inc disposed a total of 3614 shares at an average price of $279.55. The insider received $1,010,275.63 as a result of the transaction.
• What’s Happening: Goldman Sachs recently initiated coverage on the stock with a Neutral rating and $236 price target.
• What Eli Lilly Does: Eli Lilly is a drug firm with a focus on neuroscience, endocrinology, oncology, and immunology. Lilly's key products include Alimta and Verzenio for cancer; Jardiance, Trulicity, Humalog, and Humulin for diabetes; and Taltz and Olumiant for immunology.

Kforce

• The Trade: Kforce Inc. KFRC Chief Operations Officer Kye L Mitchell sold a total of 22677 shares at an average price of $75.70. The insider received $1,716,648.90 from selling those shares.
• What’s Happening: Kforce, last month, said Joseph J. Liberatore will succeed David L. Dunkel as CEO.
• What Kforce Does: Kforce Inc provides professional and technical specialty staffing services and solutions. The company operates three business segments: technology, finance and accounting, and government solutions.

Moderna

• The Trade: Moderna, Inc. MRNA CEO Stephane Bancel sold a total of 10000 shares at an average price of $243.42. The insider received $2,434,200.00 as a result of the transaction.
• What’s Happening: Moderna recently announced supply agreement with South Korea for additional 20 million doses of its COVID-19 vaccine or updated booster candidate in 2022.
• What Moderna Does: Moderna is a commercial-stage biotech that was founded in 2010 and had its initial public offering in December 2018. The firm's mRNA technology was rapidly validated with its COVID-19 vaccine, which was authorized in the United States in December 2020.

Electronic Arts

• The Trade: Electronic Arts Inc. EA CEO and Director Andrew Wilson sold a total of 10000 shares at an average price of $134.86. The insider received $1,348,633.99 from selling those shares.
• What’s Happening: Citigroup, last month, upgraded Electronic Arts from Neutral to Buy and lowered the price target from $160 to $150.
• What Electronic Arts Does: EA is one of the world's largest third-party video game publishers and has transitioned from a console-based video game publisher to the one of the largest publishers on consoles, PC, and mobile.

Alphabet

• The Trade: Alphabet Inc. GOOG Senior Vice President Prabhakar Raghavan sold a total of 2475 shares at an average price of $2,889.51. The insider received $7,151,537.25 from selling those shares.
• What’s Happening: Digital Turbine recently forged a multi-year strategic partnership with Alphabet’s Google.
• What Alphabet Does: Alphabet is a holding company, with Google, the Internet media giant, as a wholly owned subsidiary. Google generates 99% of Alphabet revenue, of which more than 85% is from online ads. Google's other revenue is from sales of apps and content on Google Play and YouTube, as well as cloud service fees and other licensing revenue.