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4 Stocks Insiders Are Selling

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·2 min read
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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.

ContextLogic

  • The Trade: ContextLogic Inc. (NASDAQ: WISH) Secretary/General Counsel Devang Shah disposed a total of 94940 shares at an average price of $4.89. The insider received $464,038.24 as a result of the transaction.

  • What’s Happening: The company recently posted narrower-than-expected quarterly loss.

  • What ContextLogic Does: ContextLogic Inc is an online shopping store. The store provides personalized products, clothing products, accessories, gaming products and equipment, cosmetics, plastic products, mobile covers, and other products,

General Motors

  • The Trade: General Motors Company (NYSE: GM) President Mark Reuss sold a total of 224527 shares at an average price of $64.36. The insider received $14,450,191.13 from selling those shares. The insider also bought a total of 189015 shares.

  • What’s Happening: General Motors, last month, reported better-than-expected Q3 EPS and sales results and raised guidance.

  • What General Motors Does: General Motors Co. emerged from the bankruptcy of General Motors Corp. (old GM) in July 2009. GM has eight brands and operates under four segments: GM North America, GM International, Cruise, and GM Financial.

Avis Budget Group

  • The Trade: Avis Budget Group, Inc. (NASDAQ: CAR) Executive Chairman Bernardo Hees sold a total of 43389 shares at an average price of $275.06. The insider received $11,934,578.34 as a result of the transaction.

  • What’s Happening: Barclays, last week, downgraded Avis Budget from Equal-Weight to Underweight and raises the price target from $125 to $217.

  • What Avis Budget Group Does: Avis Budget Group Inc is a provider of automotive vehicle rental and car-sharing services. Its brands include Avis, Budget, and Zipcar.

Netflix

  • The Trade: Netflix, Inc. (NASDAQ: NFLX) Director Jay C Hoag sold a total of 2472 shares at an average price of $700.19. The insider received $1,730,873.39 from selling those shares.

  • What’s Happening: Netflix recently said it is seeking to expand its Japanese content beyond anime library.

  • What Netflix Does: Netflix's primary business is a streaming video on demand service now available in almost every country worldwide except China.

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