Airbnb, Hewlett Packard Enterprise And 2 Other Stocks Insiders Are Selling

The S&P 500 closed lower on Tuesday. 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.

Hewlett Packard Enterprise

• The Trade: Hewlett Packard Enterprise Company HPE SVP Controller and CTO Jeremy Cox sold a total of 9,161 shares at an average price of $17.00. The insider received around $155.74 thousand from selling those shares.
• What’s Happening: HPE expanded its relationship with AWS to simplify hybrid cloud transformation for enterprises.
• 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

Arthur J. Gallagher

• The Trade: Arthur J. Gallagher & Co. AJG Director David Johnson sold a total of 1,000 shares at an average price of $216.40. The insider received around $216.4 thousand from selling those shares.
• What’s Happening: Raymond James maintained Arthur J. Gallagher with a Strong Buy and raised the price target from $240 to $245.
• What Arthur J. Gallagher Does: Arthur J. Gallagher & Co provides insurance brokerage and consulting services to middle-market entities around the world.

Airbnb

• The Trade: Airbnb, Inc. ABNB Director Joseph Gebbia sold a total of 166,667 shares at an average price of $125.38. The insider received around $20.09 million from selling those shares.
• What’s Happening: Needham reiterated Airbnb with a Buy and maintained a $150 price target.
• What Airbnb Does: Started in 2008, Airbnb is the world's largest online alternative accommodation travel agency, also offering booking services for boutique hotels and experiences.

Owens & Minor

• The Trade: Owens & Minor, Inc. OMI President and CEO Edward A Pesicka sold a total of 77,560 shares at an average price of $19.26. The insider received around $1.49 million from selling those shares.
• What’s Happening: Owens & Minor said first-quarter sales results were higher year over year.
• What Owens & Minor Does: Owens & Minor Inc distributes consumable medical supplies to a variety of providers. The business is under two segments: Products & Healthcare Services and Patient Direct.

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