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.
Marvell Technology
- The Trade:Marvell Technology, Inc. President, Products and Tech Raghib Hussain disposed a total of 324957 shares at an average price of $72.51. The insider received $23,561,016.51 as a result of the transaction. The insider also bought a total of 124957 shares.
- What’s Happening:Marvell Technology, recently commenced an offer to exchange certain of its outstanding unregistered notes for new registered notes.
- What Marvell Technology Does:Marvell Technology is a leading fabless chipmaker focused on networking and storage applications. Marvell serves the data center, carrier, enterprise, automotive, and consumer end markets with processors, optical interconnections, application-specific integrated circuits (ASICs), and merchant silicon for ethernet applications.
Alphabet
- The Trade:Alphabet Inc. CEO Sundar Pichai sold a total of 16500 shares at an average price of $2,981.43. The insider received $8,944,299.26 from selling those shares. The insider also acquired a total of 13500 shares.
- What’s Happening:NICE and Google Cloud announced collaboration to drive smarter digital conversations and improve self-service experiences.
- What Alphabet Does:Alphabet is a holding company, with Google, the Internet media giant, as a wholly owned subsidiary. Google generates 99% of Alphabet revenue, of which more than 85% is from online ads.
TriNet Group
- The Trade:TriNet Group, Inc. Principal Accounting Officer Chris Kondo sold a total of 21491 shares at an average price of $108.08. The insider received $1,242,000.35 as a result of the transaction. The insider also acquired a total of 2000 shares.
- What’s Happening:Trinet Group, last month, announced better-than-expected Q3 EPS results.
- What TriNet Group Does:Trinet Group Inc is a United States-based company that provides human resources solutions for small to medium-size companies.
Snap
- The Trade:Snap Inc. Chief Financial Officer Derek Andersen sold a total of 12793 shares at an average price of $54.31. The insider received $694,787.12 from selling those shares.
- What’s Happening:Camo, last month, reported a partnership with Snap to accelerate augmented reality streams for games, meetings, presentations.
- 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.