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.
Snap
The Trade: Snap Inc. SNAP Chief Executive Officer Evan Spiegel disposed a total of 312113 shares at an average price of $80.10. The insider received $25,000,344.93 as a result of the transaction.
What’s Happening: Snap, last month, reported better-than-expected Q2 results and issued strong Q3 sales guidance.
What Snap Does: Snap, which refers to itself as a camera company, has one of the most popular social networking apps, Snapchat, in developed regions such as North America and Europe.
Virgin Galactic
The Trade: Virgin Galactic Holdings, Inc. SPCE 10% owner Virgin Investments Ltd, Virgin Group Investments Llc, Corvina Holdings Ltd, Virgin Group Holdings Ltd, Richard Sir Branson sold a total of 10473766 shares at an average price of $28.79. The insider received $299,867,918.90 from selling those shares.
What’s Happening: Morgan Stanley, on Wednesday, downgraded Virgin Galactic from Equal-Weight to Underweight and announced a $25 price target.
What Virgin Galactic Does: Virgin Galactic Holdings Inc is a United States-based vertically-integrated aerospace company pioneering human spaceflight for private individuals & researchers, and it also manufactures advanced air and space vehicles.
The Trade: Twitter, Inc. TWTR Chief Financial Officer Ned Segal sold a total of 7000 shares at an average price of $67.15. The insider received $470,050.00 as a result of the transaction.
What’s Happening: Twitter, last month, reported better-than-expected Q2 results and issued strong Q3 sales guidance.
What Twitter Does: Twitter is an open distribution platform for and a conversational platform around short-form text (a maximum of 280 characters), image, and video content.
Procter & Gamble
The Trade: The Procter & Gamble Company PG Director Nelson Peltz sold a total of 315295 shares at an average price of $142.15. The insider received $44,819,783.31 from selling those shares.
What’s Happening: Procter & Gamble, last month, reported better-than-expected Q4 EPS and sales results.
What Procter & Gamble Does: Since its founding in 1837, Procter & Gamble has become one of the world's largest consumer product manufacturers, generating more than $70 billion in annual sales.
T-Mobile US
The Trade: T-Mobile US, Inc. TMUS President and CEO Michael Sievert sold a total of 40000 shares at an average price of $142.97. The insider received $5,718,800.00 as a result of the transaction.
What’s Happening: T-Mobile’s subsidiary T-Mobile USA, Inc, recently, agreed to sell $1.3 billion 3.4% Senior Secured Notes due 2052 and $700 million 3.6% Senior Secured Notes due 2060 in a private institutional offering.
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.
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