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.
- The Trade: WideOpenWest, Inc. (NYSE:WOW) CEO Teresa Elder disposed a total of 15000 shares at an average price of $20.01. The insider received $300,075.00 as a result of the transaction.
- What’s Happening: The company, last month, posted upbeat quarterly sales.
- What WideOpenWest Does: WideOpenWest Inc is a cable operator and broadband service, provider. The company serves residential, business and wholesale customers in Illinois, Michigan, Indiana, Ohio, Kansas, Tennessee, Maryland, and South Carolina. Its service portfolio consists of high-speed internet, data, voice, cloud, and cable television services.
- The Trade: Ford Motor Company (NYSE:F) Controller Catherine Ocallaghan sold a total of 72956 shares at an average price of $20.26. The insider received $1,478,373.09 from selling those shares. The insider also acquired a total of 16154 shares.
- What’s Happening: Ford Motor recently said it sold nearly as many electric Mustang Mach-Es as its gas powered sibling in November and sharply lowered production for the Mach-Es while stepping it up for the traditional Mustangs during the month.
- What Ford Does: Ford Motor Co. manufactures automobiles under its Ford and Lincoln brands. The company has about 14% market share in the United States and about 7% share in Europe. Sales in North America and Europe made up 69% and 19.5% of 2020 auto revenue, respectively.
- The Trade: Dell Technologies Inc. (NYSE:DELL) President Global Sales and Customer Operations William Scannell sold a total of 155090 shares at an average price of $57.00. The insider received $8,840,130.00 as a result of the transaction.
- What’s Happening: Dell Technologies recently reported better-than-expected Q3 EPS and sales results..
- What Dell Technologies Does: Dell Technologies, born from Dell's 2016 acquisition of EMC, is a leading provider of servers, storage, and networking products through its ISG segment, and PCs, monitors, and peripherals via its CSG division.
- The Trade: Pfizer Inc. (NYSE:PFE) Executive Vice President Alexander R MacKenzie sold a total of 41360 shares at an average price of $54.26. The insider received $2,244,193.60 from selling those shares.
- What’s Happening: The company’s shares surged 32% over the previous six months.
- What Pfizer Does: Pfizer is one of the world's largest pharmaceutical firms, with annual sales close to $50 billion (excluding COVID-19 vaccine sales).
- The Trade: Target Corporation (NYSE:TGT) Executive Officer Brian Cornell sold a total of 245931 shares at an average price of $244.72. The insider received $7,341,592.69 from selling those shares. The insider also bought a total of 215931 shares.
- What’s Happening: Target, last month, reported third-quarter FY21 total revenue growth of 13.3% year-on-year, to $25.65 billion.
- What Target Does: With 1,897 stores (as of the end of fiscal 2020), Target is a leading American general merchandise retailer, offering a variety of products across several categories, including beauty and household essentials (26% of fiscal 2020 sales), food and beverage (20%), home furnishings and décor (20%), hardlines (18%), and apparel and accessories (16%).