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: Unity Software Inc. (NYSE: U) Director Aps Otee, David Helgason, Christoph Joachim Ante sold a total of 300000 shares at an average price of $131.49. The insider received $39,446,887.19 as a result of the transaction.
What is going on: HiDef Inc. recently announced a partnership with Unity.
What Unity software does: Unity Software operates a real-time 3D development platform. The platform provides software solutions to create, run, and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices.
The trade: California Resources Corporation (NYSE: CRC) 10% owner Goldentree Asset Management Lp, Goldentree Asset Management Llc, Steven Tananbaum sold a total of 100,000 shares at an average price of $41.99. The insider received $4,199,000.00 from the sale of those shares.
What is going on: Keybanc maintained California Resources overweight and raised its price target from $45 to $47.
What California Resources does: California Resources produces oil and natural gas in California. At the end of 2018, the company reported net proven reserves of 618 million boe.
The trade: Nuance Communications, Inc. (NASDAQ: NUAN) President Lloyd Carney sold a total of 11820 shares at an average price of $55.21. The insider received $652,613.66 as a result of the transaction.
What is going on: Nuance Communications recently said that the US Department of Veterans Affairs is using the Nuance Dragon Medical One Platform.
What Nuance Communications does: Nuance Communications Inc is the pioneer of conversational AI innovations that add intelligence to everyday work and life.
The trade: Interactive Brokers Group, Inc. (NASDAQ: IBKR) President Thomas Peterffy sold 40000 shares in total at an average price of $61.90. The insider received $2,475,939.04 from the sale of those shares.
What is going on: Interactive Brokers Group recently announced the launch of cryptocurrency trading.
What Interactive Brokers does: Interactive Brokers Group Inc, or IB, conducts broker-dealer agency and proprietary trading activities worldwide.
The trade: C3.ai, Inc. (NYSE: AI) CEO Thomas Siebel sold a total of 640866 shares at an average price of $49.13. The insider received $31,485,573.72 from the sale of those shares.
What is going on: C3 AI, the Enterprise AI application software company, recently announced the general availability of C3 AI CRM.
What C3.ai does: Founded in 2009, C3.ai operates as an enterprise artificial intelligence (AI) software company in North America, Europe, the Middle East, Africa, Asia-Pacific and internationally.
See more from Benzinga
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.