Crude oil futures dipped more than 2% on Monday as the US dollar strengthened following increasing concerns between the US and Russia over Ukraine. Investors, meanwhile, focused on some notable insider trades.
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.
Carnival
- The Trade: Carnival Corporation CCL CFO and CAO David Bernstein disposed a total of 15973 shares at an average price of $21.58. The insider received $344.65 thousand as a result of the transaction.
- What’s Happening: Carrier's Marioff recently expanded BluEdge Elite Service agreement with Carnival for additional five years.
- What Carnival Does: Carnival is the largest global cruise company, set to deploy 50 ships on the seas by the end of fiscal 2021 as the COVID-19 pandemic wanes.
Alphabet
- The Trade: Alphabet Inc. GOOG Director Larry Page sold a total of 5882 shares at an average price of $2,704.04. The insider received $15.91 million from selling those shares.
- What’s Happening: Alphabet’s subsidiary Verily and L'Oréal S.A. recently announced a strategic partnership to further skin health.
- What Alphabet Does: Alphabet is a holding company, with Google, the Internet media giant, as a wholly owned subsidiary.
Moderna
- The Trade: Moderna, Inc. MRNA CEO Stephane Bancel sold a total of 23000 shares at an average price of $181.42. The insider received $3.45 million as a result of the transaction.
- What’s Happening: B of A Securities, on Friday, upgraded Moderna from Underperform to Neutral and raised the price target from $135 to $180.
- What Moderna Does: Moderna is a commercial-stage biotech that was founded in 2010 and had its initial public offering in December 2018. The firm's mRNA technology was rapidly validated with its COVID-19 vaccine, which was authorized in the United States in December 2020.
Morgan Stanley
- The Trade: Morgan Stanley MS Chief Legal Officer Eric Grossman sold a total of 47557 shares at an average price of $99.85. The insider received $4.75 million from selling those shares. The insider also bought a total of 44072 shares.
- What’s Happening: Morgan Stanley, last week, reported better-than-expected Q4 EPS results.
- What Morgan Stanley Does: Morgan Stanley is a global investment bank whose history, through its legacy firms, can be traced back to 1924. The company has institutional securities, wealth management, and investment management segments.
Schneider National
- The Trade: Schneider National, Inc. SNDR Executive Vice President, Group President of Transportation and Logistics David Geyer sold a total of 16000 shares at an average price of $26.82. The insider received $429.12 thousand from selling those shares.
- What’s Happening: Schneider National recently said it is expanding intermodal service by moving its primary western U.S. rail partnership to Union Pacific in 2023.
- What Schneider National Does: Schneider National ranks among the largest U.S. full-truckload carriers, including its for-hire and dedicated operations (50% of total revenue).
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