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.

Tesla

• The Trade: Tesla, Inc. TSLA CEO Elon Musk disposed a total of 1200000 shares at an average price of $1,029.67. The insider received $1,235,607,328.52 as a result of the transaction.
• What’s Happening: Tesla chief Elon Musk took to Twitter TWTR to mock Sen. Bernie Sanders (I-VT) after the progressive legislator made yet another social media pronouncement to increase taxes on the ultra-wealthy.
• 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.

Centene

• The Trade: Centene Corporation CNC Director John Roberts sold a total of 44172 shares at an average price of $75.04. The insider received $1,500,800.00 from selling those shares. The insider also acquired a total of 23100 shares.
• What’s Happening: Centene, last month, reported Q3 adjusted EPS of $1.26, slightly beating the consensus estimate of $1.25.
• What Centene Does: Centene is a managed-care organization focused on government-sponsored healthcare plans, including Medicaid, Medicare, and the individual exchanges.

Pfizer

• The Trade: Pfizer Inc. PFE Group President John D Young sold a total of 150000 shares at an average price of $50.06. The insider received $7,508,732.08 as a result of the transaction.
• What’s Happening: Biohaven Pharmaceutical Holding Company and Pfizer recently announced an agreement for rimegepant in markets outside the U.S.
• What Pfizer Does: Pfizer is one of the world's largest pharmaceutical firms, with annual sales close to $50 billion (excluding COVID-19 vaccine sales). While it historically sold many types of healthcare products and chemicals, now, prescription drugs and vaccines account for the majority of sales.

Box

• The Trade: Box, Inc. BOX Chief Financial Officer Dylan Smith sold a total of 15000 shares at an average price of $26.45. The insider received $396,750.00 from selling those shares.
• What’s Happening: Box recently announced that the U.S. General Services Administration (GSA) has selected Box Sign technology for its native e-signature capability.
• What Box Does: Box was founded in 2005 as a natively built cloud file sync and sharing provider for enterprises. Box is headquartered in Redwood City, California.