Howard E Rubin, Insider at Trupanion (NASDAQ:TRUP), made a large insider sell on November 12, according to a new SEC filing.

What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Friday showed that Rubin sold 3,468 shares of Trupanion at prices ranging from $125.05 to $128.00. The total transaction amounted to $435,202.

Following the transaction, Rubin still owns 223,478 shares of the company, worth $30,397,477.

Trupanion shares are trading down 1.24% at $136.02 at the time of this writing on Wednesday morning.

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Why Insider Transactions Are Important

Insider transactions shouldn't be used primarily to make an investing decision, however, they can be an important factor for an investor to consider.

In legal terms, an "insider" refers to any shareholder who owns at least 10% of a company. This can include executives in the c-suite and large hedge funds. These insiders are required to let the public know of their transactions via a Form 4 filing, which must be filed within two business days of the transaction.

When a company insider makes a new purchase, that is an indication that they expect the stock to rise.

Insider sells, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down.

Transaction Codes To Focus On

Check Out The Full List Of Trupanion's Insider Trades.

This article was generated by Benzinga's automated content engine and reviewed by an editor.