Very High Profile Insiders Selling Stock: Netflix, Google and More

We cover insider selling every week at 24/7 Wall St., and we like to remind our readers that just because an individual or 10% institutional owner is selling stock, that is no cause for immediate alarm. Many top executives, and even directors, are compensated with stock and often sell just to diversify or purchase other assets.

Here are companies that reported notable insider selling this past week.

Netflix Inc. (NASDAQ: NFLX) had the man at the very top selling last week. The founder, chairman and chief executive of the video-streaming giant, Reed Hastings, sold a total of 90,860 shares of the stock at a price of $101.51 apiece. The total for the sale came to a solid $9.2 million. Netflix shares were trading on Friday’s close at $102.24.

Google Inc. (NASDAQ: GOOGL) also saw somebody right at the very top selling shares this past week. Larry Page, the CEO of the company, sold a total of 16,666 shares at $621.28 per share. The total for the sale came to $10.3 million. Google shares ended trading on Friday at $640.15, well above the selling price.

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Energy Focus Inc. (NASDAQ: EFOI) had a director at the company unloading shares last week. The director sold a total of 391,304 shares of the stock at $15.98 apiece. The total for the sale came to $6.3 million. The company recently completed a follow-on offering of stock at $17, and the shares have been crushed lately. Energy Focus designs, develops, manufactures, markets and installs energy-efficient lighting systems and solutions in the United States and internationally. Investors may want to revisit their thesis for owning this company, as shares closed on Friday at $11.55.

Addus HomeCare Corp. (NASDAQ: ADUS) had a 10% owner of the company selling shares this past week. Eos Management sold a block of 126,629 shares at prices that ranger from $32.00 to $33.31. The total for the trade came to $4.1 million. The company provides home and community based services to older adults and younger disabled persons in the United States. Shares were changing hands on Friday’s close at $32.77.

Hawaiian Holdings Inc. (NASDAQ: HA) had a director at the company selling stock. That director parted with a total of 200,491 shares at prices between $25.13 and $25.31. The total for the sale came to $5.1 million. Hawaiian Holdings, through its subsidiary, Hawaiian Airlines, engages in the scheduled air transportation of passengers and cargo. The stock ended the week at $24.38, so a well-timed sale, it appears.

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The only other company that hit our insider selling screens this week was Pioneer Natural Resources Co. (NYSE: PXD), and that offers an idea of how tepid the selling has been. It also is a positive sign for the market when insiders want to wait to sell shares as they think there is more upside to their holdings.