On Monday, crude oil futures dipped more than 2% as the US dollar strengthened after growing concerns between the US and Russia over Ukraine. The investors focused their attention 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 overpriced. 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. It can lend conviction to a selling decision.
Below is a look at some recent insider sales. The trade: Carnival Corporation NYSE: CCL CFO and CAO David Bernstein disposed of 15973 shares at an average price of $21.58. The insider received $344.65 thousand as a result of the transaction.
Carrier's Marioff recently expanded the BluEdge Elite Service agreement with Carnival for additional five years.
Carnival will deploy 50 ships on the seas by the end of fiscal 2021, as the COVID 19 epidemic wanes.
The Trade: Alphabet Inc. NASDAQ: GOOG Director Larry Page sold 5882 shares at an average price of $2,704. The insider received $15.91 million from selling those shares.
What is happening now: Alphabet s subsidiary, Verily and L'Or al S.A. announced a strategic partnership to further skin health.
What Alphabet does: It's a holding company with Google as a wholly owned subsidiary.
The Trade: Moderna, Inc. NASDAQ: MRNA CEO Stephane Bancel sold 23000 shares at an average price of $181.42. The insider received $3.45 million as a result of the transaction.
What is Happening On Friday: B of A Securities upgraded Moderna from Underperform to Neutral and raised the price target from $135 to $180.
Moderna is a commercial-stage biotech that was founded in 2010 and had its initial public offering in December 2018. The firm's mRNA technology was quickly validated with its COVID 19 vaccine, which was authorized in the United States in December 2020.
The Morgan Stanley NYSE: MS Chief Legal Officer Eric Grossman sold a total of 47557 shares at an average price of $99.85. The insider received $4.75 million from selling those shares. The insider bought 44072 shares.
Morgan Stanley does what it does: Morgan Stanley has a history that can be traced back to 1924 through its legacy firms. The company has institutional securities, wealth management, and investment management segments.
The trade: Schneider National, Inc. NYSE: SNDR Executive Vice President, Group President of Transportation and Logistics David Geyer sold 16000 shares at an average price of $26.82. The insider received $429.12 thousand from selling those shares.
What is happening? Schneider National is moving its main Western U.S. rail partnership to Union Pacific in 2023, which will expand intermodal service.
Schneider National Does: Schneider National is one of the largest U.S. full-truckload carriers, including its for-hire and dedicated operations, 50% of total revenue.