Coinbase Global, T-Mobile US And 2 Other Stocks Insiders Are Selling

Coinbase Global, T-Mobile US And 2 Other Stocks Insiders Are Selling

U.S. crude oil futures traded lower this morning on Tuesday. 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.

AutoNation

  • The Trade: AutoNation, Inc. AN 10% owner Edward S Lampert sold a total of 183,504 shares at an average price of $124.51. The insider received around $22.85 million from selling those shares.
  • What’s Happening: AutoNation, last month, reported a second-quarter FY22 sales decline of 2% year-on-year to $6.87 billion, beating the consensus of $6.84 billion.
  • What AutoNation Does: AutoNation is the largest automotive dealer in the United States, with 2021 revenue of $25.8 billion and about 250 dealerships at nearly 350 locations, plus 57 collision centers.

Also check this: Fear & Greed Index Remains In Neutral Zone Ahead Of Retail Earnings

T-Mobile US

  • The Trade: T-Mobile US, Inc. TMUS President, Business Group Callie Field sold a total of 6,944 shares at an average price of $144.00. The insider received around $1 million as a result of the transaction.
  • What’s Happening: T-Mobile US recently entered into license purchase agreement with Channel 51 License Co LLC and LB License Co, LLC.
  • What T-Mobile US Does: Deutsche Telekom merged its T-Mobile USA unit with prepaid specialist MetroPCS in 2013, creating T-Mobile US. Following the merger, the firm provided nationwide service in major markets but spottier coverage elsewhere. T-Mobile spent aggressively on low-frequency spectrum, well suited to broad coverage, and has substantially expanded its geographic footprint.

Have a look at our premarket coverage here .

Boston Scientific

  • The Trade: Boston Scientific Corporation BSX EVP, Human Resources Wendy Carruthers sold a total of 7,500 shares at an average price of $42.03. The insider received around $315.26 thousand from selling those shares.
  • What’s Happening: Boston Scientific acquired privately-held Obsidio Inc that developed the Gel Embolic Material (GEM) technology to embolize blood vessels in the peripheral vasculature.
  • What Boston Scientific Does: Boston Scientific produces less invasive medical devices that are inserted into the human body through small openings or cuts.

Coinbase Global

  • The Trade: Coinbase Global, Inc. COIN Chief Accounting Officer Jennifer N Jones sold a total of 4,512 shares at an average price of $97.24. The insider received around $438.75 thousand from selling those shares.
  • What’s Happening: Coinbase Global recently said it is being investigated by the U.S. Securities and Exchange Commission (SEC) over a number of its products.
  • What Coinbase Global Does: Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States.

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