Benzinga - The Dow Jones jumped by around 400 points on Tuesday. Investors, meanwhile, focused on some 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.
Unum Group (NYSE:UNM)
- The Trade: Unum Group (NYSE: UNM) EVP, Chief Info & Digital Off. Puneet Bhasin sold a total of 10,725 shares at an average price of 41.03. The insider received around $440.05 thousand from selling those shares.
- What’s Happening: Goldman Sachs (NYSE:GS) recently downgraded Unum from Buy to Neutral and announced a $50 price target.
- What Unum Group Does: Unum Group, based in Chattanooga, Tennessee, provides financial protection benefit solutions primarily in the United States, the United Kingdom, and Poland.
Gap
- The Trade: The Gap, Inc. (NYSE: GPS) EVP CFO Katrina O'Connell sold a total of 31,294 shares at an average price of $14.00. The insider received around $438.12 thousand as a result of the transaction.
- What’s Happening: Gap recently reported better-than-expected Q3 sales results.
- What Gap Does: Gap, headquartered in San Francisco, California, operates as an apparel retail company.
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Cisco Systems (NASDAQ:CSCO)
- The Trade: Cisco Systems, Inc. (NASDAQ: CSCO) EVP & Chief Cust & Prtnr Offcr Jeffery S Sharritts sold a total of 14,830 shares at an average price of $47.80. The insider received around $708.88 thousand from selling those shares.
- What’s Happening: Cisco recently reported better-than-expected Q1 results.
- What Cisco Systems Does: Cisco Systems, headquartered in San Jose, California, designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry.
Coca-Cola Company (NYSE:KO)
- The Trade: The Coca-Cola Company (NYSE: KO) SVP & Chief Technical Officer Nancy Quan sold a total of 13,746 shares at an average price of $61.12. The insider received around $840.2 thousand from selling those shares.
- What’s Happening: Coca-Cola, last month, reported better-than-expected Q3 earnings.
- What Coca-Cola Company Does: Coca-Cola Company, founded in 1886, manufactures, markets, and sells various nonalcoholic beverages worldwide.