How Much Are Anika Therapeutics, Inc. (NASDAQ:ANIK) Insiders Taking Off The Table?

It is not uncommon to see companies perform well in the years after insiders buy shares. The flip side of that is that there are more than a few examples of insiders dumping stock prior to a period of weak performance. So before you buy or sell Anika Therapeutics, Inc. (NASDAQ:ANIK), you may well want to know whether insiders have been buying or selling.

What Is Insider Selling?

It's quite normal to see company insiders, such as board members, trading in company stock, from time to time. However, most countries require that the company discloses such transactions to the market.

Insider transactions are not the most important thing when it comes to long-term investing. But logic dictates you should pay some attention to whether insiders are buying or selling shares. For example, a Harvard University study found that 'insider purchases earn abnormal returns of more than 6% per year'.

See our latest analysis for Anika Therapeutics

Anika Therapeutics Insider Transactions Over The Last Year

Over the last year, we can see that the biggest insider sale was by the Independent Director, Raymond Land, for US$127k worth of shares, at about US$36.77 per share. That means that an insider was selling shares at slightly below the current price (US$37.60). As a general rule we consider it to be discouraging when insiders are selling below the current price, because it suggests they were happy with a lower valuation. However, while insider selling is sometimes discouraging, it's only a weak signal. It is worth noting that this sale was only 37% of Raymond Land's holding.

In the last year Anika Therapeutics insiders didn't buy any company stock. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

If you are like me, then you will not want to miss this free list of growing companies that insiders are buying.

Insider Ownership of Anika Therapeutics

For a common shareholder, it is worth checking how many shares are held by company insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. Based on our data, Anika Therapeutics insiders have about 0.8% of the stock, worth approximately US$4.4m. We consider this fairly low insider ownership.

So What Do The Anika Therapeutics Insider Transactions Indicate?

The fact that there have been no Anika Therapeutics insider transactions recently certainly doesn't bother us. The insider transactions at Anika Therapeutics are not inspiring us to buy. And usually insiders own more stock in the company, according to our data. Of course, the future is what matters most. So if you are interested in Anika Therapeutics, you should check out this free report on analyst forecasts for the company.

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.

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, but not derivative transactions.

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This article by Simply Wall St is general in nature. 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.
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