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.
The trade: Dropbox, Inc. (NASDAQ: DBX) President Timothy Young a total of 10381 shares sold at an average price of $30.80. The insider received $319,771.13 as a result of the transaction.
What is going on: Dropbox reported better-than-expected Q2 EPS and sales results earlier this month.
What Dropbox does: Dropbox is a leading provider of cloud storage and content collaboration tools, with a focus on individuals and SMBs.
The trade: Airbnb, Inc. (NASDAQ: ABNB) Chief Financial Officer Dave Stephenson sold a total of 26321 shares at an average price of $159.61. The insider received $4,200,998.40 from the sale of those shares.
What is going on: Airbnb helped people around the world with temporary stays in times of crisis through its nonprofit arm. The company announced on Tuesday that it will help aid Afghan refugees.
What Airbnb does: Founded in 2007, Airbnb is the world’s largest online alternative accommodation travel agency and also offers boutique hotel booking services and experiences.
The trade: Berkeley Lights, Inc. (NASDAQ: BLI) Director Igor Khandros sold a total of 75,000 shares at an average price of $35.14. The insider received $2,635,841.25 as a result of the transaction.
What is going on: The company released dismal quarterly results earlier this month.
What Berkeley Lights Does: Berkeley Lights is a digital cell biology company focused on enabling and accelerating the rapid development and commercialization of biotherapeutics and other cell-based products.
The trade: cryoport, inc. (NASDAQ: CYRX) 10% Owner Blackstone Holdings Ii Lp, Blackstone Holdings Iii GP Llc, Blackstone Inc, Blackstone Group Management Llc, Stephen Schwarzman sold a total of 335,000 shares at an average price of $60.00. The insider received $20.1 million from the sale of those shares.
What is going on: Cryoport and Mitsubishi Logistics Corporation recently entered into a multi-year strategic business alliance to create an integrated regenerative medicine supply chain partnership in Japan.
What Cryoport does: CryoPort Inc is a temperature-controlled supply chain provider to the life sciences industry by providing a unique and evolving platform of critical products and solutions, including advanced packaging, computing, specialty logistics services, biostorage services, and cryogenic life sciences equipment.
The trade: The Estee Lauder Companies Inc. (NYSE: EL) 10% owner Zinterhofer Aerin Lauder Trust Uad, Aerin Lauder a total of 1,84293 shares sold at an average price of $335.95. The insider received $61,912,922.50 from the sale of those shares.
What is going on: Estée Lauder recently reported better-than-expected fourth-quarter revenue.
What Estee Lauder does: Estee Lauder is the global leader in the global prestige beauty market, participating in the categories skin care (52% of sales in 2020), makeup (33%), fragrance (11%) and hair care (4%), with popular brands such as Estee Lauder, Clinique, MAC, La Mer, Jo Malone, Aveda, Bobbi Brown, Too Faced and Origins.
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