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. For more, check out Benzinga’s insider transactions platform.
What’s Happening: Dropbox, earlier during the month, reported better-than-expected Q2 EPS and sales results.
What Dropbox Does: Dropbox is a leading provider of cloud-storage and content collaboration tools with an emphasis on individuals and SMB.
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 selling those shares.
What’s Happening: Airbnb helped people around the world with temporary stays during times of crisis through its non-profit arm. The company announced Tuesday it will help with the effort to aid Afghan refugees.
What Airbnb Does: Started in 2007, Airbnb is the world’s largest online alternative accommodation travel agency, also offering booking services for boutique hotels and experiences.
What’s Happening: The company, earlier during the month, reported downbeat quarterly results.
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 335000 shares at an average price of $60.00. The insider received $20,100,000.00 from selling those shares.
What’s Happening: Cryoport and Mitsubishi Logistics Corporation recently entered a multi-year strategic business allianceto create an integrated regenerative medicine supply chain partnership in Japan.
What Cryoport Does: CryoPort Inc is a provider of temperature-controlled supply chain for the life sciences industry by providing a unique and evolving platform of critical products and solutions including advanced packaging, informatics, specialty logistics services, biostorage services, and cryogenic life sciences equipment.
The Trade: The Estée Lauder Companies Inc. (NYSE: EL) 10% owner Zinterhofer Aerin Lauder Trust Uad , Aerin Lauder sold a total of 184293 shares at an average price of $335.95. The insider received $61,912,922.50 from selling those shares.
What’s Happening: Estée Lauder recently reported better-than-expected sales for its fourth quarter.
What Estée Lauder Does: Estee Lauder is the world leader in the global prestige beauty market, participating across skincare (52% of 2020 sales), makeup (33%), fragrance (11%), and haircare (4%) categories, with popular brands such as Estee Lauder, Clinique, MAC, La Mer, Jo Malone, Aveda, Bobbi Brown, Too Faced, and Origins.
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