U.S. crude futures traded lower this morning on Monday. Meanwhile, investors focused on some key insider trading.
When insiders sell stocks, it indicates concerns about the company’s prospects or that they view the stock as overpriced. Either way, this signals an opportunity for exposure in the stock. Insider sales should not be taken as the sole indicator for making an investment or trading decision. At best, it can give confidence in a selling decision.
Below is a look at a few notable insider sales recently. For more, check out Benzinga’s insider dealings platform.
- Swap: modern, inc. mRNA Director Noubar B. Afeyan sold a total of 10,000 shares with an average price of $134.00. The insider received approximately $1.34 million from the sale of these shares.
- What’s happening: The company recently said it is open to supplying COVID vaccines to China and setting up a COVID vaccine facility in Japan.
- What Moderna Does: Moderna is a commercially staged biotechnology that was founded in 2010 and went public in December 2018.
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- Swap: Amazon.com, Inc. AMZN CEO of Amazon Web Services Adam Selipsky sold a total of 1,020 shares with an average price of $127.94. The insider received about $130.5k as a result of the transaction.
- What’s happening: The California state attorney general has sued Amazon.com for allegedly inflating prices, stifling competition, and violating antitrust laws through the contracts of third-party vendors and wholesalers, the Wall Street Journal reported.
- What Amazon.com Does: Amazon is a leading online retailer and one of the highest-grossing e-commerce aggregators, with net sales of $386 billion and estimated physical/digital online gross product volume of approximately $578 billion in 2021.
Check out our pre-market coverage here.
Bristol Myers Squibb
- Swap: Bristol-Myers Squibb Company BMY Chairman and CEO Giovanni Caforio sold a total of 50,000 shares with an average price of $71.84. The insider received approximately $3.59 million from the sale of these shares.
- What’s happening: Bristol Myers Squibb has received European Commission approval for the LAG-3 blocking antibody combination opdualag for the treatment of tumor cell PD-L1 Expression <1%, unresectable or metastatic melanoma.
- What Bristol-Myers Squibb Does: Bristol-Myers Squibb discovers, develops and markets drugs for a variety of therapeutic areas such as cardiovascular, cancer and immune disorders.
- Swap: McKesson Corporation MCK Vice President Lori Schechter sold a total of 7,500 shares Its average price is $343.94. The insider received approximately $2.58 million from the sale of these shares.
- What’s happening: Argus Research recently protected McKesson with a Buy, raising its price target from $370 to $430.
- What McKesson Did: McKesson is a leading wholesaler of branded, generic and specialty pharmaceutical products to pharmacies (retail chains, independent and mail order), hospital networks and healthcare providers.
- Swap: Target Company TGT Chief Executive Officer John Mulligan sold a total of 39,101 shares priced at an average of $166.02. The insider received approximately $6.49 million from the sale of these shares.
- What’s happening: Keybanc recently launched coverage for an Overweight Target and announced a $200 price target.
- What the Target Does: With 1,926 stores (as of fiscal year end 2021), Target is a leading American offering a variety of products in a variety of categories, including beauty and home goods (26% of fiscal 26% sales), food and beverage (26% of fiscal 1921 sales). general merchandise retailer. %), home furnishings and decor (19%), harsh lines (18%), and clothing and accessories (17%).