The US economy unexpectedly added 467,000 jobs in January, surpassing analysts’ expectations for a 150,000 gain. 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.
Charles Schwab
- The Trade: The Charles Schwab Corporation (NYSE:SCHW) Chairman Charles Schwab disposed a total of 119,280 shares at an average price of $90.20. The insider received $10.76 million as a result of the transaction.
- What’s Happening: Charles Schwab recently raised its dividend from $0.18 to $0.20.
- What Charles Schwab Does: Charles Schwab operates in the brokerage, banking, and asset-management businesses. The company runs a large network of brick-and-mortar brokerage branch offices and a well-established online investing website.
Upstart Holdings
- The Trade: Upstart Holdings, Inc. (NASDAQ:UPST) CEO Dave Girouard sold a total of 91,665 shares at an average price of $109.37. The insider received $10.03 million from selling those shares.
- What’s Happening: The company’s stock tumbled around 28% over the previous month.
- What Upstart Holdings Does: Upstart Holdings Inc provides credit services. The company provides a proprietary, cloud-based, artificial intelligence lending platform.
Also check out this: Alphabet And 4 Other Stocks Sold By Insiders
Carlyle Group
- The Trade: The Carlyle Group Inc. (NASDAQ:CG) CEO Kewsong Lee sold a total of 124,876 shares at an average price of $52.25. The insider received $6.52 million as a result of the transaction.
- What’s Happening: The company posted upbeat quarterly earnings.
- What Carlyle Group Does: Carlyle is one of the world's largest alternative asset managers, with $293.1 billion in total assets under management, including $176.4 billion in fee-earning AUM, at the end of September 2021.
Funko
- The Trade: Funko, Inc. (NASDAQ:FNKO) 10% owner Woodson Capital Master Fund Lp sold a total of 264,779 shares at an average price of $17.60. The insider received $4.66 million from selling those shares.
- What’s Happening: The company’s stock dropped 11% over the previous six months.
- What Funko Does: Funko Inc is a US-based pop culture consumer products company. It creates whimsical, fun and different products which enable the customer to express their affinity for their favorite through movie, TV show, video game, musician or sports team.
California Resources
- The Trade: California Resources Corporation (NYSE:CRC) 10% owner Ares Partners Holdco Llc sold a total of 300,000 shares at an average price of $44.90. The insider received around $13.47 million from selling those shares.
- What’s Happening: California Resources is expected to report its Q4 financial results conference call on Thursday, February 24th.
- What California Resources Does: California Resources Corp is an independent oil and natural gas company committed to energy transition in the sector. The firm has some of the lowest carbon intensity production in the US.
