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Notable Cdk Global Insider Trades $131.39 Thousand In Company Stock

Lee J Brunz, General Counsel And Secretary at Cdk Global (NASDAQ:CDK), made a large buy and sell of company shares on September 13, according to a new SEC filing.

What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission reports that on September 13, Lee J Brunz bought 1,447 Cdk Global shares at a price of $20.24 per share, for a total of $29,293. They then sold their shares on succeeding transactions in the open market at prices ranging from $42.43 to $42.96 to raise a total of $102,096 from the sale.

Following the transaction, Brunz still owns 69,129 shares of the company, worth $2,927,613.

Cdk Global shares are trading up 0.14% at $42.35 at the time of this writing on Wednesday morning.

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The Importance of Insider Transactions

Insider transactions shouldn't be used primarily to make an investing decision, however an insider transaction can be an important factor in the investing decision.

In legal terms, an "insider" refers to any shareholder who owns at least 10% of a company. This can include executives in the c-suite and large hedge funds. These insiders are required to let the public know of their transactions via a Form 4 filing, which must be filed within two business days of the transaction.

When a company insider makes a new purchase, that is an indication that they expect the stock to rise.

Insider sells, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down.

Transaction Codes To Focus On

Investors prefer focusing on transactions that take place in the open market, indicated in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S indicates a sale. Transaction code C indicates the conversion of an option, and transaction code A indicates the insider may have been forced to sell shares in order to receive compensation that had been promised upon being hired by the company.

Check Out The Full List Of Cdk Global's Insider Trades.

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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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