Apr 13, 2016

Posted by in Stock Reports | 0 Comments

Insiders Sell Significant Shares: Veeva Systems Inc (NYSE:VEEV), RSP Permian Inc (NYSE:RSPP), Myriad Genetics, Inc. (NASDAQ:MYGN)

Insiders Sell Significant Shares: Veeva Systems Inc (NYSE:VEEV), RSP Permian Inc (NYSE:RSPP), Myriad Genetics, Inc. (NASDAQ:MYGN)

As a general rule, insider buying shows management’s confidence in the company, and is considered a bullish sign—in other words a sign that stock prices are likely to go up. Conversely, insider selling is considered bearish—those in the know may be off loading their stocks in an expectation that prices will soon fall. So it pays to keep an eye on the activities of insiders.

Studies have shown that prompt and timely dissemination of insider transactions are profitable for investors, as insiders tend to beat the market. The odds in favor of an insider purchase being followed by further purchases are three times greater than the odds of a purchase followed by a sale.

Veeva Systems Inc (NYSE:VEEV) saw an insider sell on Apr 08, 2016 that may make shareholders worried. Armenante Mark, 10% Owner, sold 62,500 shares at $25.58 a piece. The total sale came to $1,598,594, leaving the total count to 20,000 shares. Its shares currently owned by company management are 0.10% while institutional investors own about 78.00%. The 6-month change recorded in total insider ownership was -95.88%. On the other side, 8.35% change in total institutional ownership has been reported for the 3-month period.

Moving on to the second insider trade which involved Wallace Family Partnership, LP, a Director by deputization at RSP Permian Inc (NYSE:RSPP) sold 55,877 shares at $29.69 per share to trim the total holding at 8,265,276 shares. Its shares currently owned by company management are 9.80% while institutional investors own about 90.20%. The 6-month change recorded in total insider ownership was -16.39%. On the other side, 1.18% change in total institutional ownership has been reported for the 3-month period.

Myriad Genetics, Inc. (NASDAQ:MYGN) also received some insider trading action as King Gary A., who the company’s Exec. VP International Ops is sold some 15,000 shares at a price of $39.03 per share to the holding that now comprises of 80,640 shares. Its shares currently owned by company management are 0.50%. The 6-month change recorded in total insider ownership was -37.79%. On the other side, -4.24% change in total institutional ownership has been reported for the 3-month period.

 

 

 

 

 

 

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