The US economy added 223,000 jobs in December, the least since December 2020, following a revised 256,000 increase in November, and above market estimates of 200,000. 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.
Albemarle
- The Trade: Albemarle Corporation ALB EVP and CFO Scott Tozier sold a total of 1,719 shares at an average price of $220.00. The insider received around $378.18 thousand from selling those shares.
- What’s Happening: Albemarle recently announced $180 million investment in North Carolina Technology Park for advanced lithium technology.
- What Albemarle Does: Albemarle is the world's largest lithium producer. Our outlook for robust lithium demand is predicated upon increased demand for electric vehicle batteries.
Check This Out: Fear & Greed Index Moves To 'Neutral' Zone Following Jobs Data
Hewlett Packard Enterprise
- The Trade: Hewlett Packard Enterprise Company HPE EVP, GM, Intelligent Edge Phil Mottram sold a total of 5,000 shares at an average price of $16.50. The insider received around $82.5 thousand as a result of the transaction.
- What’s Happening: Hewlett Packard Enterprise will sell 49% stake in H3C to Unisplendour.
- What Hewlett Packard Enterprise Does: Hewlett Packard Enterprise is an information technology vendor that provides hardware and software to enterprises.
Have a look at our premarket coverage here
Moderna
- The Trade: Moderna, Inc. MRNA Director Noubar B. Afeyan sold a total of 10,000 shares at an average price of $182.15. The insider received around $1.82 million from selling those shares.
- What’s Happening: Moderna and CytomX Therapeutics announced a collaboration and licensing agreement to create mRNA-based conditionally activated therapies utilizing Moderna's mRNA technologies and CytomX's Probody therapeutic platform.
- What Moderna Does: Moderna is a commercial-stage biotech that was founded in 2010 and had its initial public offering in December 2018.
Tesla
- The Trade: Tesla, Inc. TSLA Chief Financial Officer Zachary Kirkhorn sold a total of 3,752.25 shares at an average price of $109.31. The insider received around $410.16 thousand from selling those shares.
- What’s Happening: Tesla announced a fresh round of price cuts in China.
- 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.
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