© Reuters Moderna, Kellogg And 2 Other Stocks Insiders Are Selling
Benzinga – The Nasdaq settled higher on Friday, also notching gains for the week. 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.
SolarEdge Technologies
- The Trade: SolarEdge Technologies, Inc. (NASDAQ: SEDG) Chief Product Officer Meir Adest sold a total of 5,000 shares at an average price of $315.96. The insider received around $1.58 million from selling those shares.
- What’s Happening: Deutsche Bank recently maintained SolarEdge Technologies with a Hold and raised the price target from $260 to $345.
- What SolarEdge Technologies Does: SolarEdge Technologies designs, develops, and sells direct current optimized inverter systems for solar photovoltaic installations.
Check This Out: 5 Tech And Telecom Stocks That Are Flying – And May Collapse
Kellogg
- The Trade: Kellogg Company (NYSE: K) 10% owner Kellogg W K Foundation sold a total of 100,000 shares at an average price of $67.01. The insider received around $6.7 million as a result of the transaction.
- What’s Happening: Kellogg Company’s Vitamin D petition was recently accepted by the FDA.
- What Kellogg Does: Founded in 1906, Kellogg is a leading global manufacturer and marketer of cereal, cookies, crackers, and other packaged foods.
Have a look at our premarket coverage here
Moderna
- The Trade: Moderna, Inc. (NASDAQ: MRNA) Director Noubar B. Afeyan sold a total of 10,000 shares at an average price of $200.20. The insider received around $2 million from selling those shares.
- What’s Happening: Moderna’s syncytial virus vaccine candidate met its primary endpoint in a Phase 3 trial.
- What Moderna Does: Moderna is a commercial-stage biotech that was founded in 2010 and had its initial public offering in December 2018.
EverQuote
- The Trade: EverQuote, Inc. (NASDAQ: EVER) CFO and Treasurer John B. Wagner sold a total of 12,500 shares at an average price of $17.50. The insider received around $218.75 thousand from selling those shares.
- What’s Happening: Oppenheimer maintained EverQuote with an Outperform and raised the price target from $8 to $22.
- What EverQuote Does: EverQuote Inc is engaged in the business activity of offering an online marketplace for insurance shopping.
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