5 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.

Moderna

The Trade: Moderna, Inc. MRNA CEO Stephane Bancel disposed a total of 23000 shares at an average price of $398.09. The insider received $7,563,650.00 as a result of the transaction.

What’s Happening: Moderna, last week, said its COVID-19 vaccine continues to be 93% effective six months after
the second dose.

What Moderna Does: Moderna is a commercial-stage biotech that was founded in 2010 and had its initial public offering in December 2018.

Eli Lilly

The Trade: Eli Lilly and Company LLY 10% owner Lilly Endowment Inc sold a total of 132692 shares at an average price of $264.26. The insider received $35,065,320.39 from selling those shares.

What’s Happening: Eli Lilly and Innovent Biologics, on Friday, announced new and updated data from the ORIENT-11 Phase 3 study of sintilimab as first-line treatment of nonsquamous non-small cell lung cancer (NSCLC).

What Eli Lilly Does: Eli Lilly is a drug firm with a focus on neuroscience, endocrinology, oncology, and immunology.

IHS Markit

The Trade: IHS Markit Ltd. INFO CFO and Chairman Gordon Darrell Lance Uggla sold a total of 36810 shares at an average price of $118.85. The insider received $4,374,868.50 as a result of the transaction.

What’s Happening: S&P Global and IHS Markit, last week, agreed to sell Oil Price Information Services (OPIS); Coal, Metals and Mining; and PetroChem Wire businesses to News Corp in a cash transaction valued at $1.15 billion.

What IHS Markit Does: IHS Markit is a leading provider of data and analytics to corporate and sovereign clients across a wide variety of industries.

Bank of America

The Trade: Bank of America Corporation BAC Vice Chairman Thong M Nguyen sold a total of 80000 shares at an average price of $39.98. The insider received $3,198,400.00 from selling those shares.

What’s Happening: Bank of America, last month boosted its quarterly dividend from $0.18 to $0.21 per share.

What Bank of America Does: Bank of America is one of the largest financial institutions in the United States, with more than $2.5 trillion in assets.

Twitter

The Trade: Twitter, Inc. TWTR Chief Accounting Officer Robert Kaiden sold a total of 11603 shares at an average price of $69.04. The insider received $801,106.35 as a result of disposing the shares.

What’s Happening: Twitter recently said it is now allowing users to create accounts and also log in to the micro-blogging platform with their Apple or Alphabet’s Google accounts.

What Twitter Does: Twitter is an open distribution platform for and a conversational platform around short-form text (a maximum of 280 characters), image, and video content.