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: Twitter, Inc. (NYSE: TWTR) Engineering Lead Michael Montano disposed a total of 4500 shares at an average price of $59.09. The insider received $265,905.00 as a result of the transaction.
What’s Happening: Twitter recent said it has agreed to sell its MoPub mobile ad unit to AppLovin for $1.05 billion in cash.
What Twitter Does: Twitter is an open distribution platform for and a conversational platform around short-form text (a maximum of 280 characters), image, and video content.
The Trade: Zoom Video Communications, Inc. (NASDAQ: ZM) Chief Operating Officer Aparna Bawa sold a total of 1913 shares at an average price of $259.62. The insider received $496,653.06 from selling those shares.
What’s Happening: Five9 shareholders recently rejected Zoom’s acquisition agreement.
What Zoom Video Does: Zoom Video Communications provides a communications platform that connects people through video, voice, chat, and content sharing.
The Trade: HubSpot, Inc. (NYSE: HUBS) Chief Technology Officer Dharmesh Shah sold a total of 20000 shares at an average price of $658.23. The insider received $13,164,549.10 as a result of the transaction.
What’s Happening: HubSpot will webcast its 2021 Analyst Day event on Tuesday, October 12, 2021.
What HubSpot Does: HubSpot provides a cloud-based marketing, sales, and customer service software platform referred to as the growth platform.
The Trade: BlackBerry Limited (NYSE: BB) President and COO Tom Eacobacci sold a total of 171300 shares at an average price of $9.35. The insider received $1,601,655.00 from selling those shares.
What’s Happening: BlackBerry and Deloitte joined forces to secure IoT software supply chains.
What BlackBerry Does: BlackBerry, once known for being the world’s largest smartphone manufacturer, is now exclusively a software provider with a stated goal of end-to-end secure communication for enterprises.
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