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 $278.47. The insider received $5,290,990.00 as a result of the transaction.
• What’s Happening: Moderna recently agreed in principle with the Australian government to build a messenger RNA (mRNA) vaccine manufacturing facility in Victoria, Australia, including access to Moderna's mRNA development engine.
• What Moderna Does: Moderna is a commercial-stage biotech that was founded in 2010 and had its initial public offering in December 2018. The firm's mRNA technology was rapidly validated with its COVID-19 vaccine, which was authorized in the United States in December 2020.

Eli Lilly and Company

• The Trade: Eli Lilly and Company LLY 10% owner Lilly Endowment Inc sold a total of 177616 shares at an average price of $280.20. The insider received $49,768,773.45 from selling those shares.
• What’s Happening: Goldman Sachs initiated coverage on the stock with a Neutral rating and $236 price target.
• What Eli Lilly Does: Eli Lilly is a drug firm with a focus on neuroscience, endocrinology, oncology, and immunology. Lilly's key products include Alimta and Verzenio for cancer; Jardiance, Trulicity, Humalog, and Humulin for diabetes; and Taltz and Olumiant for immunology.

Hawaiian Holdings

• The Trade: Hawaiian Holdings, Inc. HA Director Donald Carty sold a total of 20000 shares at an average price of $17.81. The insider received $356,292.00 as a result of the transaction.
• What’s Happening: Hawaiian Holdings recently said it sees Q4 sales down 29% to 32% compared to 2019.
• What Hawaiian Holdings Does: Hawaiian Holdings Inc provides air transportation for passengers and cargo. Its primary asset is the sole ownership of Hawaiian Airlines.

NetApp

• The Trade: NetApp, Inc. NTAP President Cesar Cernuda sold a total of 14000 shares at an average price of $87.13. The insider received $1,219,783.60 from selling those shares.
• What’s Happening: JP Morgan, last week, upgraded NetApp from Neutral to Overweight and raised the price target from $108 to $110.
• What NetApp Does: NetApp is a leading provider of enterprise data management and storage solutions. The company's three operating business units are products, software maintenance, and hardware maintenance.

Jabil

• The Trade: Jabil Inc. JBL EVP, CFO Michael Dastoor sold a total of 10565 shares at an average price of $65.93. The insider received $696,550.45 from selling those shares.
• What’s Happening: The company, last week, posted upbeat quarterly results
• What Jabil Does: Jabil Inc is a United States-based company engaged in providing manufacturing services and solutions.