EVP, Chief Insurance Officer Alessandrea Quane Sells 16,793 Shares of Oscar Health Inc (OSCR)
On September 6, 2023, Alessandrea Quane, the EVP and Chief Insurance Officer of Oscar Health Inc (NYSE:OSCR), sold 16,793 shares of the company. This move comes amidst a year where the insider has sold a total of 99,743 shares and purchased none.
Alessandrea Quane is a seasoned executive with a wealth of experience in the insurance industry. As the Chief Insurance Officer of Oscar Health Inc, she is responsible for overseeing the company's insurance operations and ensuring regulatory compliance. Her role is pivotal in shaping the company's strategic direction and maintaining its competitive edge in the market.
Oscar Health Inc is a technology-driven health insurance company that aims to make health care accessible and affordable. The company leverages technology, data, and design to humanize health care and build a personalized, simplified experience for its members. Oscar Health Inc operates in the Health Care Plans sector, offering individual, couple, and family health insurance plans.
The insider's recent sell-off raises questions about the company's current valuation and future prospects. On the day of the insider's recent sell, shares of Oscar Health Inc were trading for $6.26 apiece, giving the stock a market cap of $1.42 billion.
Over the past year, the insider transaction history for Oscar Health Inc shows a trend towards selling. There have been 22 insider sells and no insider buys. This could indicate that insiders believe the stock is currently overvalued or that they expect the stock price to decrease in the future.
The above image shows the trend of insider transactions over the past year. The absence of insider buys and the consistent selling by the insider could be a red flag for potential investors. However, it's important to note that insider selling doesn't necessarily indicate a lack of confidence in the company. Insiders may sell shares for personal reasons or to diversify their investment portfolio.
In conclusion, the recent sell-off by the insider, Alessandrea Quane, warrants attention. While it's not uncommon for insiders to sell shares, the absence of insider buys over the past year could be a cause for concern. Investors should keep a close eye on Oscar Health Inc's future performance and any further insider transactions.
This article first appeared on GuruFocus.
