4 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.

Extreme Networks

The Trade: Extreme Networks, Inc. EXTR Chief Revenue Officer Joseph A Vitalone disposed a total of 30000 shares at an average price of $11.08. The insider received 332,388.00 as a result of the transaction.

What’s Happening: Extreme Networks, last week, reported fourth-quarter FY21 revenue growth of 29% year-on-year to $278.1 million, beating the analyst consensus of $263.9 million.

What Extreme Networks Does: Extreme Networks provides software-driven networking services for enterprise customers.

Manhattan Associates

The Trade: Manhattan Associates, Inc. MANH President and CEO Eddie Capel sold a total of 66000 shares at an average price of $159.73. The insider received $10,542,349.43 from selling those shares.

What’s Happening: Manhattan Associates, last week, reported upbeat results for its second quarter.

What Manhattan Associates Does: Manhattan Associates, founded in 1990, develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations for retailers, wholesalers, manufacturers, logistics providers, and other organizations.

Bristol-Myers Squibb

The Trade: Bristol-Myers Squibb Company BMY EVP, General Counsel Sandra Leung sold a total of 29390 shares at an average price of $68.04. The insider received $1,999,695.60 as a result of the transaction.

What’s Happening: The European Commission, last week, approved Bristol Myers Squibb & Co's Opdivo (nivolumab) as adjuvant treatment of adult patients with esophageal or gastroesophageal junction (GEJ) cancer.

What Bristol-Myers Squibb Does: Bristol-Myers Squibb discovers, develops, and markets drugs for various therapeutic areas, such as cardiovascular, oncology, and immune disorders.

PriceSmart

The Trade: PriceSmart, Inc. PSMT Director Robert E Price sold a total of 20000 shares at an average price of $87.43. The insider received $1,748,552.77 from selling those shares.

What’s Happening: PriceSmart, last month, reported third-quarter FY21 revenue of $895.3 million, a growth of 11.92% year-on-year.

What PriceSmart Does: Pricesmart Inc is a company principally engaged in operating U.S.-style membership shopping warehouse clubs that offer consumer goods at low prices.