3 stocks that insiders are selling

When insiders sell stock, it indicates that they are concerned about the company’s prospects or that they view the stock as too expensive. Either way, this indicates an opportunity to go short on the stock. Insider sales should not be considered the sole indicator for making an investment or trading decision. At best, it can convince a sales decision.

Below are some recent notable insider sales. For more, check out Benzinga’s Insider Trading platform.

Modern

The trade: Moderna, Inc. (NASDAQ: MRNA) CEO Bancel Stephane sold 10,000 shares in total at an average price of $318.50. The insider received $3,185,000 as a result of the transaction.

What is going on: The Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has issued a positive opinion recommending the approval of Moderna’s COVID-19 vaccine (Spikevax) for use in adolescents aged 12 years and older. The company’s shares gained more than 5% in today’s session.

What does Moderna do: Moderna is a commercial-stage biotech company whose COVID-19 vaccine was approved in the United States in December 2020.

morning star

The trade: Morningstar, Inc. (NASDAQ: MORN) Executive Chairman Joseph D Mansueto sold a total of 8,760 shares at an average price of $252.83.

What is going on: Morningstar is all set to release its quarterly results on July 28, 2021. Shares of the company rose about 1% in the past five days.

What does Morningstar do: Morningstar is a provider of independent investment research for financial advisors, asset managers and investors.

netgear

The trade: Netgear Inc (NASDAQ: NTGR) CTO Mark Merrill sold a total of 4,500 shares at an average price of $36.85. The insider received $165,830 from the sale of those shares.

What is going on: The company’s shares have lost nearly 11% so far.

What Netgear does: Netgear is a computer networking company based in San Jose, California.

See more from Benzinga

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.