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.
Halliburton
- The Trade: Halliburton Company (NYSE:HAL) Pres:Eastern Hemisphere Joe Rainey disposed a total of 14000 shares at an average price of $28.50. The insider received $399,000.00 as a result of the transaction.
- What’s Happening: JP Morgan upgraded Halliburton from Neutral to Overweight and raised the price target from $30 to $32.
- What Halliburton Does: Halliburton is the world's second- largest oilfield-services company. Building from its origins pioneering oil and gas well cementing in the 1920s, Halliburton has evolved into the premier wellbore engineering company, with leading business lines in cementing, completion equipment, and pressure pumping.
California Resources
- The Trade: California Resources Corporation (NYSE:CRC) 10% owner Af Energy Feeder Lp sold a total of 200000 shares at an average price of $44.68. The insider received $8,935,980.00 from selling those shares.
- What’s Happening: The company’s shares gained around 12% over the previous month.
- What California Resources Does: California Resources Corp is an independent oil and natural gas company committed to energy transition in the sector. The firm has some of the lowest carbon intensity production in the US.
Hewlett Packard Enterprise
- The Trade: Hewlett Packard Enterprise Company (NYSE:HPE) EVP and CFO Tarek Robbiati sold a total of 102133 shares at an average price of $17.50. The insider received $1,787,327.50 as a result of the transaction.
- What’s Happening: Barclays upgraded Hewlett Packard from Equal-Weight to Overweight and raised the price target from $16 to $20.
- What Hewlett Packard Enterprise Does: Hewlett Packard Enterprise is a supplier of IT infrastructure products and services. The company operates as three major segments.
AMC Entertainment
- The Trade: AMC Entertainment Holdings, Inc. (NYSE:AMC) Senior Vice President, Global Development & International Daniel Ellis sold a total of 40788 shares at an average price of $20.27. The insider received $826,935.91 from selling those shares.
- What’s Happening: The company’s stock tumbled 45% over the past six months.
- What AMC Entertainment Does: AMC Entertainment Holdings Inc is involved in the theatrical exhibition business. It owns, operates or has interests in theatres located in the United States and Europe.
Airbnb
- The Trade: Airbnb, Inc. (NASDAQ:ABNB) Director Belinda Johnson sold a total of 20000 shares at an average price of $170.00. The insider received $3,400,000.00 from selling those shares.
- What’s Happening: Gordon Haskett downgraded the stock from Buy to Hold.
- What Airbnb Does: Started in 2008, Airbnb is the world's largest online alternative accommodation travel agency, also offering booking services for boutique hotels and experiences.
