5 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.

Cloudera

The Trade: Cloudera, Inc. CLDR President Michael Hollison disposed a total of 110126 shares at an average price of $15.94. The insider received $1,754,989.96 as a result of the transaction.

What’s Happening: Cloudera, last month, reported second-quarter FY22 revenue growth of 10% year-on-year to $236.1 million.

What Cloudera Does: Cloudera is an enterprise data cloud company. It sells software subscriptions and public cloud services for the Cloudera Data Platform (CDP) solution-set and software subscriptions for its traditional on-premises data platforms.

Tesla

The Trade: Tesla, Inc. TSLA Chief Financial Officer Zachary Kirkhorn sold a total of 1250 shares at an average price of $756.95. The insider received $946,187.50 from selling those shares.

What’s Happening: Tesla is planning on offering car insurance, "based on actual driving history," in Texas next month, as per the company’s CEO Elon Musk.

What Tesla Does: Founded in 2003 and based in Palo Alto, California, Tesla is a vertically integrated sustainable energy company that also aims to transition the world to electric mobility by making electric vehicles.

Qualys

The Trade: Qualys, Inc. QLYS 10% owner Philippe Courtot Family Trust sold a total of 33989 shares at an average price of $120.33. The insider received $4,090,001.74 as a result of the transaction.

What’s Happening: The company, last month, reported better-than-expected Q2 results and raised FY21 guidance.

What Qualys Does: Qualys Inc is a provider of cloud-based security and compliance solutions to enterprises, government entities, and small- and medium-sized businesses.

Progressive

The Trade: The Progressive Corporation PGR President and CEO Patricia Susan Griffith sold a total of 45000 shares at an average price of $92.60. The insider received $4,166,793.00 from selling those shares.

What’s Happening: Progressive filed for a mixed shelf offering.

What Progressive Does: Progressive underwrites private and commercial auto insurance and specialty lines; it has over 20 million personal auto policies in force and is the fourth- largest auto insurer in the United States.

Halliburton

The Trade: Halliburton Company HAL Director Murry Gerber sold a total of 44590 shares at an average price of $19.33. The insider received $861,782.01 from selling those shares.

What’s Happening: Halliburton is expected to report Q3 results on Tuesday, October 19, 2021.

What Halliburton Does: Halliburton is the world's second- largest oilfield-services company. Building from its origins pioneering oil and gas well cementing in the 1920s, Halliburton has evolved into the premier wellbore engineering company, with leading business lines in cementing, completion equipment, and pressure pumping.