Executives Sell Over $640M Of 5 Stocks


Although oil futures traded higher on Wednesday, 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.

Inspire Medical Systems

  • The Trade: Inspire Medical Systems, Inc. INSP CEO and President Timothy P Herbert sold a total of 130,000 shares at an average price of $250.52. The insider received around $32.57 million from selling those shares.
  • What’s Happening: Inspire Medical Systems, last month, generated revenue of $78.39 million in Q4, a 70% Y/Y increase, marginally beating the consensus of $78.11 million and in line with the management expectation.
  • What Inspire Medical Systems Does: Inspire Medical Systems Inc operates as a medical technology company. It focuses on the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea (OSA).

Ameriprise Financial

  • The Trade: Ameriprise Financial, Inc. AMP Chairman and CEO James M Cracchiolo sold a total of 56,622 shares at an average price of $314.16. The insider received around $17.79 million from selling those shares.
  • What’s Happening: Piper Sandler, earlier during the month, downgraded the stock from Overweight to Neutral and lowered its price target from $370 to $325.
  • What Ameriprise Financial Does: Spun off from American Express in 2005, Ameriprise Financial has emerged as a major player in the U.S. market for asset and wealth management, with around $1.4 trillion in total assets under management and advisement at the end of 2021.

Also check this: Executives Buy Around $39M Of 4 Stocks

Apria

  • The Trade: Apria, Inc. APR 10% owner Stephen Schwarzman sold a total of 14,187,515 shares at an average price of $37.50. The insider received around $532.03 million as a result of the transaction.
  • What’s Happening: The company, last month, posted mixed quarterly results.
  • What Apria Does: Apria Inc is a provider of integrated home healthcare equipment and related services in the United States.

California Resources

  • The Trade: California Resources Corporation CRC 10% owner Steven Tananbaum sold a total of 609,209 shares at an average price of $49.35. The insider received around $30.07 million from selling those shares.
  • What’s Happening: The company, last month, posted upbeat quarterly sales.
  • What California Resources Does: California Resources Corp is an independent oil and natural gas company committed to energy transition in the sector. The firm has some of the lowest carbon intensity production in the US.

NVIDIA

  • The Trade: NVIDIA Corporation NVDA Director Tench Coxe sold a total of 100,000 shares at an average price of $274.06. The insider received around $27.41 million from selling those shares.
  • What’s Happening: Tigress Financial recently maintained a Buy rating on the stock and raised its price target from $400 to $410.
  • What NVIDIA Does: Nvidia is the top designer of discrete graphics processing units that enhance the experience on computing platforms. The firm's chips are used in a variety of end markets, including high-end PCs for gaming, data centers, and automotive infotainment systems.

Posted In: Insider SellingNewsSmall CapInsider TradesMarketsTrading Ideas

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.