gina mastantuono, chief Financial Officer service now (NYSE:NOW), according to a new SEC filing, made major buying and selling of shares of the company on October 11.
What happened: A Form 4 filing from the US Securities and Exchange Commission states that gina mastantuono 1,529 buy options exercised service now Shares for $0 on October 11th. He then sold his shares on several transactions in the open market. He sold at prices ranging from $617.58 to $618.02 to raise a total of $825,959 from the stock sale.
After the transaction, Mustantuono still owned 1,968 shares of the company, valued at $1,250,742.
service now Shares are trading up 1.02% at $635.54 at the time of writing Wednesday morning.
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Importance of insider trading
Insider transactions should not be used primarily to make investment decisions; however, they can be an important factor for an investor to consider.
In legal terms, an “insider” refers to any shareholder who owns at least 10% of a company. This could include executives in the C-suite and large hedge funds. These insiders must disclose their transactions to the public through a Form 4 filing, which must be filed within two business days of the transaction.
When a company insider makes new purchases, it is a sign that they expect the stock to rise.
On the other hand, inside sales can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down.
important transaction code
Investors prefer to focus on open market transactions as indicated in Table I of the Form 4 filing. a P Box 3 indicates purchase, while s Represents sales. transaction code C Indicates the conversion of an option, and the transaction code a Indicates that the insider may have been compelled to sell the shares in order to receive the compensation promised by the company to be rented.
View a complete list of Service Now insider trades.
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