Bristol-Myers Squibb And 2 Other Stocks Sold By Insiders

The Bank of England increased its key Bank Rate by 25bps to 0.75% during its recent meeting. Investors, meanwhile, focused on some notable insider trades

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.

Activision Blizzard

• The Trade: Activision Blizzard, Inc ATVI President and COO Daniel Alegre sold a total of 14,563 shares at an average price of $79.66. The insider received around $1.16 million from selling those shares.
• What’s Happening: Activision Blizzard, last month, posted Q4 adjusted EPS of $1.25.
• What Activision Blizzard Does: Activision Blizzard was formed in 2008 by the merger of Activision, one of the largest console video game publishers, and Blizzard, one of largest PC video game publishers.

Bristol-Myers Squibb

• The Trade: Bristol-Myers Squibb Company BMY SVP and Controller Karen M. Santiago sold a total of 6,577 shares at an average price of $69.20. The insider received around $455.1 thousand from selling those shares.
• What’s Happening: Nektar Therapeutics’ Phase 3 PIVOT trial, in combination with Bristol-Myers Squibb, did not meet its primary endpoint.
• What Bristol-Myers Squibb Does: Bristol-Myers Squibb discovers, develops, and markets drugs for various therapeutic areas, such as cardiovascular, oncology, and immune disorders.

Also check this: 4 Penny Stocks Insiders Are Buying: MannKind, Crexendo And More

Patterson Companies

• The Trade: Patterson Companies, Inc. PDCO Chief Financial Officer Donald Zurbay sold a total of 10,000 shares at an average price of $30.88. The insider received around $308.8 thousand as a result of the transaction.
• What’s Happening: Patterson Companies recently reported better-than-expected Q3 EPS results and raised its FY22 adjusted EPS guidance above estimates.
• What Patterson Companies Does: Patterson is a leading dental distributor and wholesaler of consumable products and equipment operating through two business segments, Patterson Dental and Patterson Animal Health.