US stock futures traded higher this morning on Monday. Investors, meanwhile, focused on some 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: Moderna, Inc. MRNA Director Noubar B. Afeyan sold a total of 10,000 shares at an average price of $146.31. The insider received around $1.46 million from selling those shares.
- What’s Happening: Moderna and The European Commission agreed on amendment to Covid-19 vaccine supply agreement.
- What Moderna Does: Moderna is a commercial-stage biotech that was founded in 2010 and had its initial public offering in December 2018.
- The Trade: HP Inc. HPQ Chief Financial Officer Marie Myers sold a total of 4,500 shares at an average price of $39.91. The insider received around $179.59 thousand as a result of the transaction.
- What’s Happening: The company recently posted upbeat quarterly results.
- What HP Does: HP Inc. is a leading provider of computers, printers, and printer supplies. The company's three operating business segments are its personal systems, containing notebooks, desktops, and workstations; and its printing segment which contains supplies, consumer hardware, and commercial hardware; and corporate investments.
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- The Trade: Kinder Morgan, Inc. KMI VP (Pres., Products Pipelines) Dax Sanders sold a total of 5,600 shares at an average price of $20.08. The insider received around $112.44 thousand from selling those shares.
- What’s Happening: The company, during April, reported upbeat quarterly earnings.
- What Kinder Morgan Does: Kinder Morgan is one of the largest midstream energy firms in North America with an interest in or an operator on about 83,000 miles in pipelines and over 140 storage terminals.
- The Trade: Activision Blizzard, Inc. ATVI CFO Armin Zerza sold a total of 3,295 shares at an average price of $77.54. The insider received around $255.49 thousand from selling those shares.
- What’s Happening: Activision Blizzard’s shareholder, SOC Investment, urged the company’s shareholders to vote against re-election of directors.
- What Activision Blizzard Does: Activision Blizzard was formed in 2008 by the merger of Activision, one of the largest console video game publishers, and Blizzard, one of largest PC video game publishers.
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