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.
Popular
The Trade: Popular, Inc. BPOP Director Richard Carrion disposed a total of 25286 shares at an average price of $85.06. The insider received $2,150,801.87 as a result of the transaction.
What’s Happening: The company recently reported upbeat quarterly earnings.
What Popular Does: Popular Inc, based in Puerto Rico, is a financial holding company with four main subsidiaries: Banco Popular de Puerto Rico, the largest bank in Puerto Rico in terms of assets; Banco Popular North America, its banking operation in the continental United States; Evertec, a data processor; and Popular Financial Holdings, a diversified financial services company.
Hewlett Packard Enterprise
The Trade: Hewlett Packard Enterprise Company HPE SVP, GM Storage Thomas E Black Jr sold a total of 10285 shares at an average price of $15.65. The insider received $160,960.25 from selling those shares.
What’s Happening: Hewlett Packard Enterprise recently announced plans to expand its venture capital program, Hewlett Packard Pathfinder to help accelerate HPE’s edge-to-cloud strategy.
What Hewlett Packard Enterprise Does: Hewlett Packard Enterprise is a supplier of IT infrastructure products and services. The company operates as three major segments.
eBay
The Trade: eBay Inc. EBAY Director Robert H. Swan sold a total of 20000 shares at an average price of $80.00. The insider received $1,600,000.00 as a result of the transaction.
What’s Happening: The company is scheduled to report quarterly earnings today.
What eBay Does: eBay operates one of the largest e-commerce marketplaces in the world, with $85 billion in 2020 gross merchandise volume, or GMV, rendering the firm the fifth- largest global e-commerce company.
Accenture
The Trade: Accenture plc ACN CEO-Growth Markets Gianfranco Casati sold a total of 20516 shares at an average price of $355.41. The insider received $7,291,533.56 from selling those shares.
What’s Happening: Accenture recently announced the acquisition of Xoomworks.
What Accenture Does: Accenture is a leading global IT-services firm that provides consulting, strategy, and technology and operational services. These services run the gamut from aiding enterprises with digital transformation to procurement services to software system integration.
Prologis
The Trade: Prologis, Inc. PLD Chairman and CEO Hamid R Moghadam sold a total of 320000 shares at an average price of $144.26. The insider received $46,161,954.69 from selling those shares.
What’s Happening: Prologis recently reported Q3 core FFO higher year over year and raised FY21 earnings guidance.
What Prologis Does: Prologis was formed by the June 2011 merger of AMB Property and ProLogis Trust. The company develops, acquires, and operates over 900 million square feet of high-quality industrial and logistics facilities across the globe.
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