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.

Jefferies Financial

The Trade: Jefferies Financial Group Inc. JEF Chairman of the Board Joseph Steinberg disposed a total of 300000 shares at an average price of $35.05. The insider received $3,505,000.00 as a result of the transaction.

What’s Happening: SMBC, last month, announced it will purchase up to 4.9% of Jefferies Financial’s common shares and provide the company multiple credit facilities.

What Jefferies Financial Does: Jefferies Financial Group Inc is a diversified financial services company.

Carvana

The Trade: Carvana Co. CVNA 10% owner Ernest Garcia Ii, Verde Investments Inc sold a total of 87800 shares at an average price of $345.46. The insider received $15,165,478.07 from selling those shares. The insider also acquired a total of 43900 shares.

What’s Happening: Carvana, last week, reported better-than-expected Q2 earnings and sales results.

What Carvana Does: Carvana Co is an e-commerce platform for buying and selling used cars.

Kellogg

The Trade: Kellogg Company K 10% owner Kellogg W K Foundation Trust, Kellogg W K Foundation sold a total of 83331 shares at an average price of $63.79. The insider received $5,315,567.83 as a result of the transaction.

What’s Happening: Kellogg, last week, reported second-quarter FY21 net sales growth of 2.6% year-on-year, to $3.55 billion, beating the analyst consensus of $3.41 billion.

What Kellogg Does: Founded in 1906, Kellogg is a leading global manufacturer and marketer of cereal, cookies, crackers, and other packaged foods.

Alphabet

The Trade: Alphabet Inc. GOOG Director Sergey Brin sold a total of 13889 shares at an average price of $2,748.37. The insider received $38,172,090.04 from selling those shares.

What’s Happening: Alphabet’s Google will stop targeting ads based on people's age, gender, or interests below eighteen years, the company said in a blog post.

What Alphabet Does: Alphabet is a holding company, with Google, the Internet media giant, as a wholly owned subsidiary.

Eli Lilly

The Trade: Eli Lilly and Company LLY 10% owner Lilly Endowment Inc sold a total of 104711 shares at an average price of $267.50. The insider received $28,010,134.51 as a result of the transaction.

What’s Happening: Eli Lilly and Innovent Biologics, last week, 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.