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Insider Trades: Interactive Brokers, T-Mobile US, Cano Health, and TransAct Technologies Insider Trades: Financial Indicators of Confidence or Caution?

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The Nasdaq 100 closed higher by around 0.2% on Tuesday. Investors, meanwhile, focused on some notable insider trades.

When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the companyโ€™s prospects or that they view the stock as being overpriced. 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 Benzingaโ€™s insider transactions platform.

Interactive Brokers Group

  • The Trade: Interactive Brokers Group, Inc. IBKR Chief Information Officer Thomas Aj Frank sold a total of 26,015 shares at an average price of $87.40. The insider received around $2.27 million from selling those shares.
  • Whatโ€™s Happening: On Tuesday, Goldman Sachs analyst James Yaro upgraded Interactive Brokers from Neutral to Buy and raised the price target from $88 to $102.
  • What Interactive Brokers Group Does: Interactive Brokers is an online brokerage that generates trading commissions (around 43% of net revenue) from facilitating trading in a wide range of products, including equity, options, futures, foreign exchange, bonds, mutual funds, and ETFs.

Have a look at our premarket coverage here

T-Mobile US

  • The Trade: T-Mobile US, Inc. TMUS 10% owner Deutsche Telekom Holding BV sold a total of 584,730 shares at an average price of $162.94. The insider received around $95.27 million from selling those shares.
  • Whatโ€™s Happening: T-Mobile announced sale of $3 billion in senior notes due 2029, 2034, and 2055.
  • What T-Mobile US Does: Deutsche Telekom merged its T-Mobile USA unit with prepaid specialist MetroPCS in 2013, creating T-Mobile us. Following the merger, the firm provided nationwide service in major markets but spottier coverage elsewhere.

Cano Health

  • The Trade: Cano Health, Inc. CANO 10% owner ITC Rumba, LLC sold a total of 75,000 shares at an average price of $3.81. The insider received around $285,458 from selling those shares.
  • Whatโ€™s Happening: Cano Health recently received NYSE notice of non-compliance with market capitalization criteria.
  • What Cano Health Does: Cano Health Inc operates value-based primary care centers and supports affiliated medical practices that specialize in primary care for seniors in Florida, Texas, Nevada, and Puerto Rico.

TransAct Technologies

  • The Trade: TransAct Technologies Incorporated TACT 10% owner Bryant Riley sold a total of 28,842 shares at an average price of $7.52. The insider received around $216,942 from selling those shares.
  • Whatโ€™s Happening: TransAct received approval from a leading QSR to sell its BOHA!ยฎ Terminal 2 to the U.S. domestic market.
  • What TransAct Technologies Does: Transact Technologies Inc develops and sells software-driven technology and printing solutions. The companyโ€™s software is sold under BOHA, AccuDate, Epic, EPICENTRAL, Ithaca, and Printrex brand names.

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