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.

Unity Software

• The Trade: Unity Software Inc. U Director David Helgason disposed a total of 150000 shares at an average price of $173.11. The insider received $25,966,643.67 as a result of the transaction.
• What’s Happening: Unity Software, last month, posted a mild earnings beat reporting a 6-cent loss (a penny better than expected), but the brighter spot came with the sales numbers coming in at $286 million versus $264 million expected.
• What Unity Software Does: Unity Software Inc provides a software platform for creating and operating interactive, real-time 3D content. The platform can be used to create, run and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices.

Palo Alto Networks

• The Trade: Palo Alto Networks, Inc. PANW CEO Nikesh Arora sold a total of 9375 shares at an average price of $544.37. The insider received $5,103,514.76 from selling those shares.
• What’s Happening: The company, last month, posted upbeat quarterly earnings.
• What Palo Alto Networks Does: Palo Alto Networks is a pure-play cybersecurity vendor that sells security appliances, subscriptions, and support into enterprises, government entities, and service providers.

Pfizer

• The Trade: Pfizer Inc. PFE Executive Vice President Sally Susman sold a total of 44308 shares at an average price of $54.52. The insider received $2,415,577.60 as a result of the transaction.
• What’s Happening: Exact Sciences said that Pfizer will no longer join the Company from November 30 to promote its Cologuard colorectal cancer screening test to health care providers.
• What Pfizer Does: Pfizer is one of the world's largest pharmaceutical firms, with annual sales close to $50 billion (excluding COVID-19 vaccine sales).

Carter's

• The Trade: Carter's, Inc. CRI Chairman and CEO Dennis Michael Casey sold a total of 30100 shares at an average price of $104.88. The insider received $3,156,937.00 from selling those shares. The insider also bought a total of 17500 shares.
• What’s Happening: Carter's, in October, reported third-quarter FY21 sales growth of 2.9% year-on-year, to $890.59 million, missing the analyst consensus of $960.93 million..
• What Carter's Does: Carter's Inc makes apparel for babies and children under brand names including Carter's and OshKosh B'gosh. It sells its products primarily through three channels: branded retail stores in the United States and Canada, company websites, and department stores and other wholesale locations.