Crude oil futures surged over 4% on Tuesday amid concerns about possible supply disruptions due to rising tensions between Russia and Ukraine. 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.
Snap
- The Trade: Snap Inc. (NYSE:SNAP) Chief Business Officer Jeremi Gorman disposed a total of 52,047 shares at an average price of $40.05. The insider received around $2.08 million as a result of the transaction.
- What’s Happening: Snap recently priced $1.3 billion 0.125% convertible senior notes due 2028 in an upsized private institutional offering.
- What Snap Does: Snap, which refers to itself as a camera company, has one of the most popular social networking apps, Snapchat, in developed regions such as North America and Europe.
UnitedHealth Group
- The Trade: UnitedHealth Group Incorporated (NYSE:UNH) Director Richard T Burke sold a total of 5,000 shares at an average price of $476.72. The insider received around $2.38 million from selling those shares.
- What’s Happening: The District of Columbia (the district) recently selected UnitedHealthcare to administer its District Dual Choice program.
- What UnitedHealth Group Does: UnitedHealth Group is one of the largest private health insurers in the United States, providing medical benefits to 48 million members in the U.S. and internationally at the end of 2020.
Also check this: 4 Penny Stocks Insiders Are Buying
HCA Healthcare
- The Trade: HCA Healthcare, Inc. (NYSE:HCA) Pres:Service Line & Ops Integration Bruce Moore Jr sold a total of 30,000 shares at an average price of $246.87. The insider received $7.41 million as a result of the transaction.
- What’s Happening: HCA Healthcare, last month, reported worse-than-expected Q4 EPS and sales results.
- What HCA Healthcare Does: HCA Healthcare is a Nashville-based healthcare provider organization operating the largest collection of acute-care hospitals in the U.S.
Ralph Lauren
- The Trade: Ralph Lauren Corporation (NYSE:RL) EVP, Chief Commercial Officer Andrew Howard Smith sold a total of 4,623 shares at an average price of $129.75. The insider received around $599.83 thousand from selling those shares.
- What’s Happening: The company recently posted upbeat quarterly results.
- What Ralph Lauren Does: Founded in 1967 by Ralph Lauren, Ralph Lauren Corp. designs, markets, and distributes lifestyle products in North America, Europe, and Asia. Its products include apparel, footwear, eyewear, jewelry, leather goods, home products, and fragrances.
Marriott International
- The Trade: Marriott International, Inc. (NASDAQ:MAR) President Stephanie Linnartz sold a total of 2,448 shares at an average price of $178.54. The insider received around $437.07 thousand from selling those shares.
- What’s Happening: Marriott International reported better-than-expected Q4 EPS and sales results.
- What Marriott International Does: Marriott operates nearly 1.5 million rooms across roughly 30 brands. Luxury represents 10% of total rooms, while full service, limited service, and time-shares are 43%, 46%, and 2% of all units, respectively.
