US crude oil futures traded higher this morning on Wednesday. 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.
Arista Networks
- The Trade: Arista Networks, Inc. (NYSE:ANET) Director, Chief Development Officer Andreas Bechtolsheim sold a total of 200,000 shares at an average price of $103.68. The insider received around $20.74 million from selling those shares.
- What’s Happening: The company, last month, posted better-than-expected quarterly earnings.
- What Arista Networks Does: Arista Networks is a software and hardware provider for the networking solutions sector. Operating as one business unit, software, switching, and router products are targeted for high-performance networking applications, while service revenue comes from technical support.
Also check this: 3 Stocks Under $4 Insiders Are Aggressively Buying
Flywire
- The Trade: Flywire Corporation (NASDAQ:FLYW) 10% owner Ajay Agarwal sold a total of 1,240,490 shares at an average price of $19.60. The insider received around $24.31 million as a result of the transaction.
- What’s Happening: Flywire, last month, posted Q1 revenue of $64.6 million.
- What Flywire Does: Flywire Corp provides a secure global payments platform, offering its clients an innovative and streamlined process to receive reconciled domestic and international payments in a more cost effective and efficient manner.
Have a look at our premarket coverage here .
Par Pacific Holdings
- The Trade: Par Pacific Holdings, Inc. (NYSE:PARR) 10% owner Zell Credit Opportunities Master Fund LP sold a total of 455,366 shares at an average price of $17.49. The insider received around $7.97 million from selling those shares.
- What’s Happening: Par Pacific, last month, posted a Q1 loss of $0.53 per share.
- What Par Pacific Does: Par Pacific Holdings Inc is an oil and gas company that manages and maintains interests in energy and infrastructure businesses.
ZoomInfo Technologies
- The Trade: ZoomInfo Technologies Inc. (NASDAQ:ZI) CEO Henry Schuck sold a total of 192,025 shares at an average price of $42.28. The insider received around $8.12 million from selling those shares.
- What’s Happening: ZoomInfo Technologies, last month, reported better-than-expected Q1 results.
- What ZoomInfo Technologies Does: ZoomInfo Technologies Inc provides a go-to-market intelligence platform for sales and marketing teams.
