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.
International Money Express
The Trade:International Money Express, Inc. IMXI+undefined%(Get Free Alerts for IMXI)Director John Rincondisposed a total of 57719 sharesat an average price of $17.01. The insider received $981,903.03 as a result of the transaction.
What’s Happening:International Money Express, last month announced a $40 million buyback program.
What International Money Express Does:International Money Express is a processor of money transfer services in the USA to the Latin America corridor (LAC).
The Trade:Skechers U.S.A., Inc. SKX+0.02%Director Jeffrey Greenbergsold a total of 50000 sharesat an average price of $45.38. The insider received $2,269,140.00 from selling those shares.
What’s Happening:The company, in July, said it swung to a profit for the second quarter.
What Skechers Does:Skechers USA is a lifestyle footwear company under the Skechers GO brand name.
The Trade:Crocs, Inc. CROX+0.02%Director Ronald Fraschsold a total of 33000 sharesat an average price of $153.92. The insider received $5,079,387.66 as a result of the transaction.
What’s Happening:Crocs CEO Andrew Rees recently said Crocs brand is expected to grow to over $5 billion in sales by 2026.
What Crocs Does:Crocs is engaged in the design, development, marketing, distribution, and sale of casual lifestyle footwear accessories for men, women, and children.
The Trade:Workday, Inc. WDAY+0.02%Director David Duffieldsold a total of 108900 sharesat an average price of $269.37. The insider received $29,334,827.31 from selling those shares.
What’s Happening:Barclays, on Friday, maintained Workday with an Overweight and raised the price target from $309 to $340.
What Workday Does:Workday is a software company that offers human capital management, or HCM, financial management, and business planning solutions. Known for being a cloud-only software provider, Workday is headquartered in Pleasanton, California.
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