Insiders Sell More Than $323M Of 5 Stocks

Although the IHS Markit Eurozone services PMI was revised lower to 55.5 in February versus a preliminary reading of 55.8, there were a few 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.

Zeta Global Holdings

• The Trade: Zeta Global Holdings Corp. ZETA Director William Royan disposed a total of around 4,000,000 shares at an average price of $11.40. The insider received around $45.6 million as a result of the transaction.
• What’s Happening: Zeta Global recently reported better-than-expected Q4 sales results and issued FY22 sales guidance above analyst estimates.
• What Zeta Global Does: Zeta Global, incorporated in 2007, operates an omnichannel data-driven cloud platform that provides enterprises with consumer intelligence and marketing automation software in the United States and internationally.

Liberty Oilfield Services

• The Trade: Liberty Oilfield Services Inc. LBRT 10% owner Schlumberger Technology Corp sold a total of 7,224,173 shares at an average price of $11.60. The insider received around $83.8 million from selling those shares.
• What’s Happening: The company, last month, posted a loss for the fourth quarter.
• What Liberty Oilfield Services Does: Liberty Oilfield Services provides hydraulic fracturing services, mainly pressure pumping to onshore E&P firms' major basins throughout North America.

Also check this: 4 Penny Stocks Insiders Are Buying: MannKind, Crexendo And More

Arista Networks

• The Trade: Arista Networks, Inc. ANET Chief Development Officer Andreas Bechtolsheim sold a total of 200,000 shares at an average price of $122.10. The insider received around $24.42 million as a result of the transaction.
• What’s Happening: Arista Networks, last month, reported better-than-expected Q4 results and issued Q1 sales guidance above estimates.
• What Arista Networks Does: Arista Networks is a software and hardware provider for the networking solutions sector. Operating as one business unit, software, switching, and router products are targeted for high-performance networking applications, while service revenue comes from technical support.

Microsoft

• The Trade: Microsoft Corporation MSFT CEO Satya Nadella sold a total of 21,145.753 shares at an average price of $297.02. The insider received around $6.28 million from selling those shares.
• What’s Happening: Microsoft is looking to use the 5G equipment of partners like AT&T to provide some processing power located even closer to some customers than regional datacenters, Bloomberg reported.
• What Microsoft Does: Microsoft develops and licenses consumer and enterprise software. It is known for its Windows operating systems and Office productivity suite.

MP Materials

• The Trade: MP Materials Corp. MP Chairman and CEO James H Litinsky sold a total of 3,750,000 shares at an average price of $43.50. The insider received around $163.13 million from selling those shares.
• What’s Happening: The company recently posted upbeat quarterly results.
• What MP Materials Does: MP Materials Corp is the largest producer of rare earth materials in the Western Hemisphere. The company owns and operates the Mountain Pass Rare Earth Mine and Processing Facility, the only rare earth mining and processing site ofscale in North America.