Although US crude oil futures traded higher this morning, there were a few notable insider trades.
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: Dropbox, Inc. DBX President Timothy Young disposed a total of around 12,750 shares at an average price of $20.78. The insider received around $264.99 thousand as a result of the transaction.
- What’s Happening: The company, last month, posted upbeat quarterly results.
- What Dropbox Does: Dropbox is a leading provider of cloud-storage and content collaboration tools with an emphasis on individuals and SMB.
- The Trade: Northrop Grumman Corporation NOC corporate vice president and chief global business officer David Perry sold a total of 3,065 shares at an average price of $393.76. The insider received around $1.21 million from selling those shares.
- What’s Happening: The company was recently awarded a $341 million contract by the U.S. Space Force Space Systems Command to develop, test and deliver a Deep-Space Advanced Radar Capability.
- What Northrop Grumman Does: Northrop Grumman is a defense contractor that is diversified across short-cycle and long-cycle businesses. The firm's segments include aeronautics, mission systems, defense services, and space systems.
Eli Lilly and Company
- The Trade: Eli Lilly and Company LLY Chief Financial Officer Dave Stephenson sold a total of 16,806 shares at an average price of $165.93. The insider received around $2.79 million as a result of the transaction.
- What’s Happening: The FDA recently approved Eli Lilly and partner Boehringer Ingelheim's drug, Jardiance, for expanded use in reducing the risk of death and hospitalization for all patients with heart failure.
- 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.
- The Trade: The Southern Company SO President, GPC Christopher C Womack sold a total of 20,656 shares at an average price of $65.00. The insider received around $1.34 million from selling those shares.
- What’s Happening: The company, last month, posted upbeat quarterly earnings.
- What Southern Company Does: Southern Co. is one of the largest utilities in the U.S. The company distributes electricity and natural gas to approximately 9 million customers in nine states.
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