Trade Alert: President Of iRhythm Technologies Quentin Blackford Has Sold Stock

Some iRhythm Technologies, Inc. (NASDAQ:IRTC) shareholders may be a little concerned to see that the President, Quentin Blackford, recently sold a substantial US$3.0m worth of stock at a price of US$122 per share. That sale reduced their total holding by 26% which is hardly insignificant, but far from the worst we've seen.

Check out our latest analysis for iRhythm Technologies

iRhythm Technologies Insider Transactions Over The Last Year

In fact, the recent sale by Quentin Blackford was the biggest sale of iRhythm Technologies shares made by an insider individual in the last twelve months, according to our records. So what is clear is that an insider saw fit to sell at around the current price of US$121. While insider selling is a negative, to us, it is more negative if the shares are sold at a lower price. Given that the sale took place at around current prices, it makes us a little cautious but is hardly a major concern.

Insiders in iRhythm Technologies didn't buy any shares in the last year. The chart below shows insider transactions (by companies and individuals) over the last year. If you want to know exactly who sold, for how much, and when, simply click on the graph below!

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Does iRhythm Technologies Boast High Insider Ownership?

For a common shareholder, it is worth checking how many shares are held by company insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. Insiders own 1.0% of iRhythm Technologies shares, worth about US$37m. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.

What Might The Insider Transactions At iRhythm Technologies Tell Us?

Insiders sold stock recently, but they haven't been buying. Looking to the last twelve months, our data doesn't show any insider buying. While insiders do own shares, they don't own a heap, and they have been selling. So we'd only buy after careful consideration. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing iRhythm Technologies. In terms of investment risks, we've identified 2 warning signs with iRhythm Technologies and understanding these should be part of your investment process.

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For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.