4 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.

Coinbase Global

The Trade: Coinbase Global, Inc. COIN Director Frederick Ernest Ehrsam III disposed a total of 19710 shares at an average price of $271.02. The insider received $5,341,724.49 as a result of the transaction.

What’s Happening: Coinbase Global CEO Brian Armstrong came down heavily on the U.S. Securities and Exchange Commission late night Tuesday on social media.

What Coinbase Global Does: Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States. The company intends to be the safe and regulation-compliant point of entry for retail investors and institutions into the cryptocurrency economy.

Fox

The Trade: Fox Corporation FOX Chairman Keith Rupert Murdoch sold a total of 100000 shares at an average price of $37.13. The insider received $3,713,000.00 from selling those shares.

What’s Happening: FOX recently made a strategic investment in Eluvio to accelerate the adoption of Eluvio's platform across the broader media and entertainment industry.

What Fox Does: Fox represents the assets not sold to Disney by the predecessor firm, Twenty First Century Fox. The remaining assets include Fox News, the FOX broadcast network, FS1 and FS2, Fox Business, Big Ten Network, 28 owned and operated local television stations of which 17 are affiliated with the Fox Network, and the Fox Studios lot.

Conn's

The Trade: Conn's, Inc. CONN Director Norman Miller sold a total of 52949 shares at an average price of $25.41. The insider received $1,345,434.09 as a result of the transaction.

What’s Happening: Conn's recently reported second-quarter FY22 revenue growth of 14% year-on-year, to $418.38 million, beating the analyst consensus of $396.74 million.

What Conn's Does: Conn's is a United-States-based specialty retailer primarily engaged in the sale of durable consumer goods and related services.

Performant Financial

The Trade: Performant Financial Corporation PFMT 10% owner Pcp Managers GP Llc, Pcp Managers Lp, Pcap Ii Llc, Pcap Partners Ii Llc, Parthenon Investors Ii Lp sold a total of 257917 shares at an average price of $4.92. The insider received $1,269,054.81 from selling those shares.

What’s Happening: Performance Food Group joined the S&P MidCap 400 index effective September 3.

What Performant Financial Does: Performant Financial provides technology-enabled recovery and related analytics services in the United States.