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.

Tesla

• The Trade: Tesla, Inc. TSLA CEO Elon Musk disposed a total of 148195 shares at an average price of $1,015.85. The insider received $150,543,964.23 as a result of the transaction.
• What’s Happening: JPMorgan Chase & Co sued Tesla for $162 million in a breach of contract case related to stock warrants.
• 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.

Arvinas

• The Trade: Arvinas, Inc. ARVN Director Liam Ratcliffe sold a total of 134310 shares at an average price of $85.83. The insider received $11,527,510.36 from selling those shares.
• What’s Happening: Arvinas, earlier during the month, reported a Q3 loss of $0.94 per share.
• What Arvinas Does: Arvinas is a United States-based private biopharmaceutical company focused on developing first-in-class protein degradation therapeutics for cancers and other difficult-to-treat diseases.

Roblox

• The Trade: Roblox Corporation RBLX Chief Business Officer Craig Donato sold a total of 360000 shares at an average price of $97.23. The insider received $35,001,184.49 as a result of the transaction.
• What’s Happening: Roblox could offer $10 million to help develop three games for middle-school, high-school, and college students, the Wall Street Journal reported.
• What Roblox Does: Roblox operates an online video game platform that lets young gamers create, develop, and monetize games (or "experiences") for other players.

Seagate

• The Trade: Seagate Technology Holdings plc STX Director ValueAct Holdings GP, LLC sold a total of 1890000 shares at an average price of $107.69. The insider received $203,532,350.00 from selling those shares.
• What’s Happening: Seagate, last month, reported better-than-expected Q1 sales results.
• What Seagate Does: Seagate is a leading supplier of hard disk drives for data storage to the enterprise and consumer markets. It forms a practical duopoly in the market with its chief rival, Western Digital; they are both vertically integrated.