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.

Coinbase Global

• The Trade: Coinbase Global, Inc. COIN Director Frederick Ernest Ehrsam III disposed a total of 23628 shares at an average price of $268.34. The insider received $6,340,316.23 as a result of the transaction.
• What’s Happening: Blockchain accelerator MouseBelt Labs claimed that Coinbase Global CEO Brian Armstrong stole ideas from a competing project Knowledgr in a lawsuit filed recently.
• 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.

Ciena

• The Trade: Ciena Corporation CIEN Senior Vice President, Global Sales and Marketing Jason Phipps sold a total of 21598 shares at an average price of $74.37. The insider received $1,606,290.78 from selling those shares.
• What’s Happening: Ciena recently announced a $250 million accelerated share repurchase agreement.
• What Ciena Does: Ciena Corp is a network strategy and technology company. It provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks.

Liberty SiriusXM Group

• The Trade: The Liberty SiriusXM Group LSXMA President, CEO Gregory B Maffei sold a total of 100000 shares at an average price of $61.26. The insider received $6,126,387.07 as a result of the transaction.
• What’s Happening: Morgan Stanley, earlier during the month, downgraded Liberty SiriusXM from Overweight to Equal-Weight.
• What Liberty SiriusXM Group Does: Liberty SiriusXM Group through its subsidiary holding is engaged in providing a subscription-based satellite radio service. It transmits music, sports, entertainment, comedy, talk, news, traffic and weather channels, as well as infotainment services.

Oracle

• The Trade: Oracle Corporation ORCL executive vice president and general counsel Dorian Daley sold a total of 20482 shares at an average price of $89.69. The insider received $1,837,081.13 from selling those shares.
• What’s Happening: Oracle recently agreed to acquire Cerner for an all-cash tender offer for $95 per share, or $28.3 billion in equity value.
• What Oracle Does: Oracle provides database technology and enterprise resource planning, or ERP, software to enterprises around the world. Founded in 1977, Oracle pioneered the first commercial SQL-based relational database management system.

Travelzoo

• The Trade: Travelzoo TZOO Global CEO Holger Bartel sold a total of 30668 shares at an average price of $10.20. The insider received $312,813.60 from selling those shares.
• What’s Happening: Travelzoo, during October, reported third-quarter FY21 revenue growth of 14% year-on-year to $15.7 million.
• What Travelzoo Does: Travelzoo acts as a publisher of travel and entertainment offers. It operates in three segments.