5 Stocks Insiders Are Selling

By Lisa Levin

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.

Progressive

  • The Trade: The Progressive Corporation (NYSE:PGR) Claims President Jo John Murphy disposed a total of 5140 shares at an average price of $102.24. The insider received $525,513.60 as a result of the transaction.
  • What’s Happening: Evercore ISI Group upgraded Progressive from In-Line to Outperform and raised the price target from $90 to $118.
  • What Progressive Does: Progressive underwrites private and commercial auto insurance and specialty lines; it has over 20 million personal auto policies in force and is the fourth- largest auto insurer in the United States.

Knight-Swift Transportation

  • The Trade: Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Executive Chairman Kevin Knight sold a total of 31129 shares at an average price of $62.02. The insider received $1,930,623.69 from selling those shares.
  • What’s Happening: Raymond James recently maintained Knight-Swift with a Market Outperform and raised the price target from $62 to $65.
  • What Knight-Swift Transportation Does: Knight-Swift Transportation is by far the largest asset-based full-truckload carrier in the United States. About 80% of revenue derives from asset-based truckload shipping operations (including for-hire dry van, refrigerated, and dedicated contract).

Intuit

  • The Trade: Intuit Inc. (NASDAQ:INTU) Exec VP/Chief People & Places Officer Laura Fennell sold a total of 15000 shares at an average price of $607.47. The insider received $9,112,077.11 as a result of the transaction.
  • What’s Happening: Intuit, in November, announced secondary offering of 1.548 million shares of common stock.
  • What Intuit Does: Intuit is a provider of small-business accounting software (QuickBooks), personal tax solutions (TurboTax), and professional tax offerings (Lacerte).

Lyft

  • The Trade: Lyft, Inc. (NASDAQ:LYFT) President of Business Affairs Kristin Sverchek sold a total of 12857 shares at an average price of $45.06. The insider received $579,293.99 from selling those shares.
  • What’s Happening: Google is partnering with Lyft and Kakao Mobility to integrate their driver apps into android auto.
  • What Lyft Does: Lyft is the second- largest ride-sharing service provider in the U.S., connecting riders and drivers over the Lyft app. Lyft recently entered the Canadian market in an effort to expand its market outside the U.S.

Walt Disney

  • The Trade: The Walt Disney Company (NYSE:DIS) Executive Vice President, Controllership, Finance and Tax Brent Woodford sold a total of 2868 shares at an average price of $158.89. The insider received $455,696.52 from selling those shares.
  • What’s Happening: Macquarie lowered the price target on Walt Disney to $185 from $195 and kept an Outperform on the shares.
  • What Walt Disney Does: Walt Disney owns the rights to some of the most globally recognized characters, from Mickey Mouse to Luke Skywalker. These characters and others are featured in several Disney theme parks around the world. Disney makes live-action and animated films under studios such as Pixar, Marvel, and Lucasfilm and also operates media networks including ESPN and several TV production studios.

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