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.

Centene

• The Trade: Centene Corporation CNC CEO and Chairman Michael Neidorff disposed a total of 120971 shares at an average price of $79.22. The insider received $6,455,596.70 as a result of the transaction.
• What’s Happening: Centene said its Chairman and CEO Michael Neidorff will retire in 2022 as CEO.
• What Centene Does: Centene is a managed-care organization focused on government-sponsored healthcare plans, including Medicaid, Medicare, and the individual exchanges.

Beyond Meat

• The Trade: Beyond Meat, Inc. BYND Chief Legal Officer Teri L Witteman sold a total of 7991 shares at an average price of $64.25. The insider received $513,402.90 from selling those shares. The insider also bought a total of 442 shares.
• What’s Happening: Piper Sandler upgraded the stock from Underweight to Neutral and raised its price target from $61 to $64.
• What Beyond Meat Does: Beyond Meat is a provider of plant-based meats, such as burgers, sausage, ground beef, and chicken. Unlike other vegetarian products, Beyond Meat seeks to replicate the look, cook, and taste of meat, is targeted to omnivores and vegetarians alike, and is sold in the meat case.

Starbucks

• The Trade: Starbucks Corporation SBUX EVP, Chief Partner Officer Angela Lis sold a total of 6000 shares at an average price of $116.88. The insider received $701,280.00 as a result of the transaction.
• What’s Happening: MKM Partners recently upgraded the stock from Neutral to Buy and raised its price target from $114 to $130.
• What Starbucks Does: Starbucks is one of the most widely recognized restaurant brands in the world, operating more than 33,800 stores across 83 countries as of the end of the firm's fiscal 2021.

Guess

• The Trade: Guess', Inc. GES Chief Financial Officer Kathryn Low Anderson sold a total of 8260 shares at an average price of $24.60. The insider received $203,196.00 from selling those shares.
• What’s Happening: Guess recently reported better-than-expected Q3 results and raised its quarterly dividend.
• What Guess Does: Guess? Inc designs, markets distributes, and licenses contemporary apparel and accessories that reflect European fashion sensibilities under brands including Guess, Marciano, and G by Guess.