Although the Dow Jones index jumped more than 800 points on Friday, there were a few notable insider trades.
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.
UnitedHealth Group
- The Trade: UnitedHealth Group Incorporated (NYSE: NYSE:UNH) Director Richard T Burke disposed a total of around 10,000 shares at an average price of $468.35. The insider received around $4.68 million as a result of the transaction.
- What’s Happening: The District of Columbia (the district) recently selected UnitedHealthcare to administer its District Dual Choice program.
- What UnitedHealth Group Does: UnitedHealth Group is one of the largest private health insurers, providing medical benefits to 50 million members globally, including 5 million outside the U.S. at the end of 2021.
- The Trade: Lockheed Martin Corporation (NYSE: NYSE:LMT) Executive Vice President Gregory M Ulmer sold a total of 1,204 shares at an average price of $411.82. The insider received around $495.83 thousand from selling those shares.
- What’s Happening: Terran Orbital recently announced a contract with Lockheed Martin for three microsatellite class satellites.
- What Lockheed Martin Does: Lockheed Martin is the largest defense contractor globally and has dominated the Western market for high-end fighter aircraft since the F-35 program was awarded in 2001.
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Airbnb
- The Trade: Airbnb, Inc. (NASDAQ: ABNB) Chief Financial Officer Dave Stephenson sold a total of 16,806 shares at an average price of $165.93. The insider received around $2.79 million as a result of the transaction.
- What’s Happening: Airbnb recently reported better-than-expected Q4 sales results and issued Q1 sales guidance above estimates.
- What Airbnb Does: Started in 2008, Airbnb is the world's largest online alternative accommodation travel agency, also offering booking services for boutique hotels and experiences.
- The Trade: The Coca-Cola Company (NYSE: NYSE:KO) President and COO Brian John Smith sold a total of 48,292 shares at an average price of $61.66. The insider received around $2.98 million from selling those shares.
- What’s Happening: Coca Cola recently raised its dividend from $0.42 to $0.44.
- What Coca-Cola Does: Coca-Cola is the largest nonalcoholic beverage entity in the world, owning and marketing some of the leading carbonated beverage brands, such as Coke, Fanta, and Sprite, as well as nonsparkling brands, such as Minute Maid, Georgia Coffee, Costa, and Glaceau.
Read at Benzinga