Executives Sell Around $325M Of 3 Stocks

Gold futures traded higher this morning on Tuesday. 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.

Kyndryl Holdings

• The Trade: Kyndryl Holdings, Inc. KD 10% owner International Business Machines Corp sold a total of 22,301,536 shares at an average price of $13.95. The insider received around $311.11 million from selling those shares.
• What’s Happening: Kyndryl Hldgs recently posted Q1 sales of $4.40 billion.
• What Kyndryl Holdings Does: Kyndryl Holdings Inc is a technology services and infrastructure services provider company.

Royalty Pharma

• The Trade: Royalty Pharma plc RPRX Director Rory B Riggs sold a total of 150,000 shares at an average price of $39.42. The insider received around $5.91 million from selling those shares.
• What’s Happening: Royalty Pharma sees FY20-FY25 adjusted cash receipts growth 11%-14% year over year.
• What Royalty Pharma Does: Royalty Pharma PLC is a buyer of biopharmaceutical royalties and a funder of innovation across the biopharmaceutical industry.

Also check this: Executives Buy Around $9M Of 4 Penny Stocks

PBF Energy

• The Trade: PBF Energy Inc. PBF 10% owner Control Empresarial de Capitales S.A. de C.V. sold a total of 241,000 shares at an average price of $30.85. The insider received around $7.43 million as a result of the transaction.
• What’s Happening: Piper Sandler maintained PBF Energy with an Overweight and raised the price target from $36 to $43.
• What PBF Energy Does: PBF Energy Inc is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States.

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