Virtusa (VRTU) sees Significant Insider Selling Continuing

Monday, March 05, 2018 10:15 PM ET

Virtusa (VRTU) sees Significant Insider Selling Continuing

A filing with the SEC today indicated a substantial insider sale of Virtusa shares as — Kris A Canekeratne, Director and Officer — disposed of 28,664 shares in the company having a market value of approximately $1,362,618. There have been 2 insiders with buy/sell transactions in the past 90 days prior to this filing. All of these trades have been sales resulting in the disposition of 57,505 company shares. Adding the most recent activity to this 90-day history indicates insider trades have seen net sales of 86,169 shares and have averaged 28,723 shares per transaction over this time period.

Insiders at Virtusa have a level of buy/sell trades that is above the 162-peer company average over the last 90-day period. The IT Services & Consulting peer group saw 212 buy/sell trades during this period for an average of 1.3 transactions per company. The number of shares per buy/sell trade for Virtusa insiders was also higher. Within the peer group there were 404,818 shares purchased and 2,086,079 shares sold with company insiders selling 7,930 shares on average.

In order to focus on significant insider buying and selling activity, all trading activity reported to the SEC that involves awards, options, exercise of derivative securities, company buy-backs, taxes, gifts, shares acquired via inheritance and tenders or exchange offers has been eliminated data sourced to create and write this story.

Using proprietary Natural Language Generation (NLG) technology, UpTick evaluates corporate insider filings reported to the SEC and creates real-time news and analysis to report the most significant insider transactions based on transaction type, size and historical trends.

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