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: Pinterest, Inc. PINS SVP, Products Naveen Gavini disposed a total of 8059 shares at an average price of $56.51. The insider received $455,429.42 as a result of the transaction.
What’s Happening: Pinterest, last month, reported better-than-expected second-quarter financial results. The company reported 454 million monthly active users and average revenue per user of $1.32.
What Pinterest Does: Pinterest, founded in 2008, provides visual discovery engine in the United States and internationally.
Bristol-Myers Squibb
The Trade: Bristol-Myers Squibb Company BMY EVP, Chief Financial Officer David V Elkins sold a total of 99691 shares at an average price of $66.95. The insider received $6,674,497.00 from selling those shares. The insider also acquired a total of 70000 shares.
What’s Happening: The European Commission, recently, 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.
Dropbox
The Trade: Dropbox, Inc. DBX Chief Legal Officer Bart Volkmer sold a total of 10000 shares at an average price of $32.24. The insider received $322,439.00 as a result of the transaction.
What’s Happening: Dropbox recently reported better-than-expected Q2 EPS and sales results.
What Dropbox Does: Dropbox is a leading provider of cloud-storage and content collaboration tools with an emphasis on individuals and SMB.
Goldman Sachs
The Trade: The Goldman Sachs Group, Inc. GS President and COO John Waldron sold a total of 20000 shares at an average price of $412.82. The insider received $8,256,372.40 from selling those shares.
What’s Happening: Goldman Sachs, last month, reported better-than-expected quarterly earnings.
What Goldman Sachs Does: Goldman Sachs is a leading global investment banking firm whose activities are organized into investment banking (20% of net revenue), global markets (40%), asset management (25%), and consumer and wealth management (15%) segments.
Charles Schwab
The Trade: The Charles Schwab Corporation SCHW Chairman Charles Schwab sold a total of 70000 shares at an average price of $74.14. The insider received $5,189,702.00 as a result of the transaction.
What’s Happening: Charles Schwab, last month, reported worse-than-expected Q2 earnings.
What Charles Schwab Does: Charles Schwab operates in the brokerage, banking, and asset-management businesses.
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