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: salesforce.com, inc. (NYSE: CRM) President and Chief Engineering Officer Srinivas Tallapragada sold a total of 24975 shares at an average price of $265.61. The insider received $6,633,709.65 as a result of the transaction.
What is going on: Salesforce.com recently reported better-than-expected Q2 results and raised expectations.
What salesforce.com does: Salesforce.com offers enterprise cloud computing solutions, including Sales Cloud, the company’s premier customer relationship management software-as-a-service product.
Fresh Del Monte products
The trade: Fresh Del Monte Produce Inc. (NYSE: FDP) Chairman and CEO Mohammad Abu-Ghazaleh sold a total of 16980 shares at an average price of $32.89. The insider received $558,529.94 from the sale of those shares.
What is going on: Fresh Del Monte Produce last month reported net sales growth in the second quarter of FY21 of 4.5% year-over-year, to $1.14 billion, versus analyst consensus of $1.15 billion.
What Fresh Del Monte Produce does: Fresh Del Monte Produce Inc produces, sells and distributes fresh fruits and vegetables internationally.
The trade: Jabil Inc. (NYSE: JBL) EVP, CFO Michael Datoren sold a total of 20958 shares at an average price of $62.05. The insider received $1,300,372.41 as a result of the transaction.
What is going on: Jabil recently reported a partnership with Shavelogic “to advance its design and manufacturing goals as the company moves rapidly from modest production volumes just nine months ago to a fast-growing disrupter category.”
What Jabil does: Jabil Inc is a United States based company engaged in providing manufacturing services and solutions.
The trade: Built-in Diodes (NASDAQ: DIOD) CEO and Chairman Keh-Shew Lu sold a total of 48370 shares at an average price of $96.39. The insider received $4,643,902.99 from the sale of those shares.
What is going on: The company announced positive quarterly results last month.
What Diodes Does: Diodes Inc is a global manufacturer and supplier of application-specific products within the broad discrete, logic, analog and mixed-signal semiconductor markets.
The trade: Hillenbrand, Inc. (NYSE: HI) Senior Vice President Michael M Jones sold a total of 12000 shares at an average price of $46.22. The insider received $554,652.00 as a result of the transaction.
What is going on: Hillenbrand announced strong results for the third quarter last month.
What Hillenbrand does: Hillenbrand Inc is a US based company that operates through three segments. The Advanced Process Solutions segment designs, develops, manufactures and maintains technical industrial equipment.
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