© Reuters. Enfusion’s chief revenue officer completes $355,000 sale
Benzinga- Steven M. Bachertrevenue manager at In fusion (NYSE:ENFN), reported a major insider sell on Nov. 16, according to a new SEC filing.
What happened: A Form 4 filed Wednesday by the U.S. Securities and Exchange Commission showed Bachert sold 26,000 shares of In fusion. The total transaction amounted to $355,940.
In fusion the shares are trading down 3.89% to $12.86 at the time of this writing Thursday morning.
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Why insider trading is important Insider trading should not be used primarily to make an investment decision, but an insider trading can be an important factor in the decision to invest.
In legal terms, an “insider” is any shareholder who owns at least 10% of a company. This can include senior executives and large hedge funds. These insiders are required to notify the public of their trades via a Form 4 filing, which must be filed within two business days of the trade.
When a company insider makes a new purchase, it indicates that they expect the stock to rise.
Insider selling, on the other hand, can be done for a variety of reasons and does not necessarily mean that the seller thinks the stock will go down.
Transaction codes to focus on Investors prefer to focus on transactions that take place in the open market, shown in Table I of the Form 4 filing. P in box 3 indicates a purchase, while S indicates a sale. Transaction code VS indicates the conversion of an option, and the transaction code A indicates that the insider may have been forced to sell stock in order to receive compensation that was promised when hired by the company.
View Enfusion’s full list of insider trading.
This article was generated by Benzinga’s automated content engine and reviewed by an editor.
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