tom cordinaChief Revenue Officer and Senior Vice President Technology mania Fanaticreported massive insider trading on Nov. 23, according to a new SEC filing.
what happened: Cordiner sold 29,978 shares, according to a Form 4 filing with the U.S. Securities and Exchange Commission on Wednesday. Technology mania. The total transaction value was $836,383.
Technology mania Shares were up 1.79% at $28.38 as of writing Thursday morning.
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The Importance of Insider Trading
Insider transactions should not be used primarily in making investment decisions, however, they can be important factors for investors to consider.
In legal terms, an “insider” is any shareholder who owns at least 10% of a company’s shares. This can include top management and executives at large hedge funds. These insiders must make their trade known to the public through a Form 4 filing, which must be filed within two business days of the trade.
When company insiders make new purchases, it’s a sign that they expect the stock to rise.
On the other hand, insider selling can happen for a variety of reasons and doesn’t necessarily mean that the seller thinks the stock will go down.
important transaction code
Investors prefer to focus on transactions taking place in the open market, as shown in Table I of the Table 4 document.One P in box 3 represents a purchase, while small Indicates a sale.trasaction code C Indicates the conversion of the option, the transaction symbol One Suggesting that an insider may be forced to sell stock for the pay promised when hired by the company.
View a full list of Avid Technology insider trades.
This article was generated by Benzinga’s automated content engine and reviewed by editors.