Although gold futures traded higher this morning on Tuesday, there were a few 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.
Airbnb
- The Trade: Airbnb, Inc. (NASDAQ:ABNB) Director Belinda Johnson sold a total of 20,000 shares at an average price of $168.98. The insider received around $3.38 million from selling those shares.
- What’s Happening: Citigroup recently upgraded Airbnb from Neutral to Buy and lowered the price target from $214 to $200.
- 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.
Aclaris Therapeutics
- The Trade: Aclaris Therapeutics, Inc. (NASDAQ:ACRS) President and CEO Neal Walker sold a total of 70,000 shares at an average price of $15.15. The insider received around $1.06 million from selling those shares.
- What’s Happening: Aclaris Therapeutics, during February, posted a Q4 loss of $0.37 per share.
- What Aclaris Therapeutics Does: Aclaris Therapeutics Inc is a clinical-stage biopharmaceutical company that operates in the United States. It focuses on developing novel drug candidates for immuno-inflammatory diseases.
Also check this: 3 Stocks Under $3 Insiders Are Aggressively Buying
Progress Software
- The Trade: Progress Software Corporation (NASDAQ:PRGS) CEO Yogesh Gupta sold a total of 5,000 shares at an average price of $50.20. The insider received around $251.01 thousand as a result of the transaction.
- What’s Happening: Progress Software, last month, reported better-than-expected Q1 EPS and sales results.
- What Progress Software Does: Progress Software Corporation is a provider of cloud-based security solutions to large- and mid-sized organizations in a wide range of industries.
Have a look at our premarket coverage here .
Surgery Partners
- The Trade: Surgery Partners, Inc. (NASDAQ:SGRY) American Group President George Goodwin sold a total of 25,525 shares at an average price of $62.58. The insider received around $1.6 million from selling those shares.
- What’s Happening: Surgery Partners is expected to release its Q1 results before the market opens on Tuesday, May 3, 2022.
- What Surgery Partners Does: Surgery Partners Inc is one of the few remaining independent ambulatory surgery center operators in the U.S. with national scale.
