French CAC 40 Index gained around 1% this morning, partially recovering from previous session’s 4% plunge, as investors await the policy decision from the Federal Reserve tomorrow. 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.
Centene
- The Trade: Centene Corporation (NYSE:CNC) EVP, Chief Information Officer Mark Brooks disposed a total of 2,774 shares at an average price of $21.58. The insider received $221.92 thousand as a result of the transaction.
- What’s Happening: Barclays, earlier during the month, reinstated Centene with an Overweight and announced a $95 price target..
- What Centene Does: Centene is a managed-care organization focused on government-sponsored healthcare plans, including Medicaid, Medicare, and the individual exchanges.
Accenture
- The Trade: Accenture plc (NYSE:ACN) chief leadership & human resources officer Ellyn Shook sold a total of 1,500 shares at an average price of $340.00. The insider received $510 thousand from selling those shares.
- What’s Happening: Goldman Sachs recently initiated coverage on Accenture with a Neutral rating and announced a price target of $446.
- What Accenture Does: Accenture is a leading global IT-services firm that provides consulting, strategy, and technology and operational services. These services run the gamut from aiding enterprises with digital transformation to procurement services to software system integration.
Also check out these stocks insiders are buying
TriNet Group
- The Trade: TriNet Group, Inc. (NYSE:TNET) Director Martin Babinec sold a total of 19,600 shares at an average price of $85.00. The insider received $1.67 million as a result of the transaction.
- What’s Happening: TriNet reported the transition of the TriNet 401(k) Plan provider to Empower by the end of 2022.
- What TriNet Group Does: Trinet Group Inc is a United States-based company that provides human resources solutions for small to medium-size companies.
Morningstar
- The Trade: Morningstar, Inc. (NASDAQ:MORN) Executive Chairman Joseph Mansueto sold a total of 3,606 shares at an average price of $291.71. The insider received $1.05 million from selling those shares.
- What’s Happening: Morgan Stanley, last week, reported better-than-expected Q4 EPS results.
- What Morningstar Does: Morningstar is a provider of independent investment research to financial advisers, asset managers, and investors. The company focuses its operations on two core sectors: data and research. It offers data on investments such as mutual funds, stocks, exchange-traded funds, closed-end funds, separate accounts, and variable annuities.
Interactive Brokers
- The Trade: Interactive Brokers Group, Inc. (NASDAQ:IBKR) Chairman Thomas Peterffy sold a total of 40,000 shares at an average price of $72.10. The insider received $2.88 million from selling those shares.
- What’s Happening: The company recently posted downbeat quarterly sales.
- What Interactive Brokers Does: Interactive Brokers Group Inc, or IB, conducts broker-dealer agency business and proprietary trading business worldwide. Through its broker-dealer agency business, IB provides direct access to trade execution and clearing services to institutional and professional traders.
