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.
The Trade: United Airlines Holdings, Inc. (NASDAQ: UAL) President Brett J Hart disposed a total of 77777 shares at an average price of $45.14. The insider received $3,510,776.00 as a result of the transaction.
What’s Happening: United Airlines Holdings and Honeywell International jointly invested multimillion-dollar in Alder Fuels, a cleantech company pioneering technologies for producing sustainable aviation fuel (SAF).
What United Airlines Does: United Airlines is the world’s third- largest airline by scheduled revenue passenger miles.
What’s Happening: During August, Tutor Perini joint venture Black Construction-Tutor Perini secured a fixed-price contract valued at ~$98.3 million from the Naval Facilities Engineering Systems Command, Pacific Division, to construct a bachelor officer quarters at Marine Corps Base Camp Blaz on Guam.
What Tutor Perini Does: Tutor Perini offers general contracting, construction management, and design-build services to private and public customers.
Norwegian Cruise Line
The Trade: Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) President & CEO, Oceania Cruises Robert Binder sold a total of 33863 shares at an average price of $25.12. The insider received $850,669.53 as a result of the transaction.
What’s Happening: Norwegian Cruise, last month, said its Oceania Cruises Line resumed sailing.
What Norwegian Cruise Line Does: Norwegian Cruise Line is the world’s third- largest cruise company by berths (at nearly 60,000), operating 28 ships across three brands (Norwegian, Oceania, and Regent Seven Seas), offering both freestyle and luxury cruising.
The Trade: ZoomInfo Technologies Inc. (NASDAQ: ZI) 10% owner Carlyle Group Inc, Carlyle Holdings I GP Inc, Carlyle Holdings I Gp Sub Llc, Carlyle Holdings I Lp sold a total of 689848 shares at an average price of $64.56. The insider received $44,537,743.09 from selling those shares.
What’s Happening: ZoomInfo, last month, announced a 20 million share secondary common stock offering by selling shareholders.
What ZoomInfo Technologies Does: ZoomInfo Technologies provides a go-to-market intelligence platform for sales and marketing teams.
What’s Happening: Moderna recently detailed recent progress in its clinical programs and issued updates on new development candidates.
What Moderna Does: Moderna is a commercial-stage biotech that was founded in 2010 and had its initial public offering in December 2018.
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