5 Stocks Insiders Are Selling

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.

Micron Technology

  • The Trade: Micron Technology, Inc. MU EVP, Global Operations Manish Bhatia disposed a total of 97107 shares at an average price of $96.02. The insider received $9,324,214.14 as a result of the transaction.
  • What’s Happening: Micron recently said David Zinsner, executive vice president and chief financial officer, resigned from the company.
  • What Micron Technology Does: Micron historically focused on designing and manufacturing DRAM for PCs and servers. The firm then expanded into the NAND flash memory market. It increased its DRAM scale with the purchase of Elpida (completed in mid-2013) and Inotera (completed in December 2016).

Essent Group

  • The Trade: Essent Group Ltd. ESNT SVP and Chief Legal Officer Lourdes Mary Gibbons sold a total of 10000 shares at an average price of $50.02. The insider received $500,187.68 from selling those shares.
  • What’s Happening: Barclays recently maintained Essent with an Overweight and raised the price target from $65 to $72.
  • What Essent Group Does: Essent Group Ltd is a private mortgage insurance company in the United States. Essent provides credit protection to lenders and mortgage investors by covering a portion of the unpaid principal balance of a mortgage and certain related expenses in the event of a default.

Lam Research

  • The Trade: Lam Research Corporation LRCX Senior Vice President Seshasayee Varadarajan sold a total of 10075 shares at an average price of $712.50. The insider received $7,125,000.00 as a result of the transaction.
  • What’s Happening: Lam Research is scheduled to host its quarterly financial conference call and webcast on Wednesday, January 26, 2022.
  • What Lam Research Does: Lam Research manufactures equipment used to fabricate semiconductors. The firm is focused on the etch, deposition, and clean markets, which are key steps in the semiconductor manufacturing process, especially for 3D NAND flash storage, advanced DRAM, and leading-edge logic/foundry chipmakers.

Moderna

  • The Trade: Moderna, Inc. MRNA CEO Stephane Bancel sold a total of 23000 shares at an average price of $219.77. The insider received $4,175,690.00 from selling those shares.
  • What’s Happening: A new real-world study funded by the Department of Veterans Affairs (VA) showed that compared to those who received Pfizer’s COVID-19 vaccine, Moderna Inc vaccine recipients had a significantly lower risk of SARS-CoV-2 infection and related hospitalizations.
  • 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

DICK'S Sporting Goods

  • The Trade: DICK'S Sporting Goods, Inc. DKS EVP, Chief Financial Officer Navdeep Gupta sold a total of 4700 shares at an average price of $114.56. The insider received $538,423.07 from selling those shares.
  • What’s Happening: DICK's recently raised its FY21 guidance.
  • What DICK'S Sporting Does: Dick's Sporting Goods retails athletic apparel, footwear, and equipment for sports. Dick's operates about 730 stores, warehouse stores, and about 125 specialty stores under the Golf Galaxy, Public Lands, and Field & Stream names.

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