Let’s refocus our attention on the insider selling activity at BioSpecifics Technologies Corp. (NASDAQ:BSTC), which has seen its top executive unload holdings recently. President and Chief Executive Officer Thomas L. Wegman reported selling 3,136 shares on Monday and 24,015 shares on Friday at prices between $50.00 and $53.50 per share. The CEO cut his overall holdings to 147,671 shares through these transactions. The biopharmaceutical company continued the global expansion of its collagenase-based product XIAFLEX during the third quarter, with its first commercial sale in Japan. Earlier this month, BioSpecifics reported third quarter net income of $2.9 million on revenue of $6.3 million, compared with net income of $1.4 million on revenue of $4.0 million reported in the same period a year ago. The shares of BioSpecifics are 29% in the green year-to-date. Meanwhile, seven hedge funds monitored by Insider Monkey owned stakes in the biopharmaceutical company at the end of the second quarter. Jim Simons’ Renaissance Technologies reported owning 192,700 shares of BioSpecifics Technologies Corp. (NASDAQ:BSTC) via its 13F filing for the September quarter.
ServiceNow Inc. (NYSE:NOW) has registered a large volume of insider selling over the past few days, but this paragraph will only discuss the insider trades that were not conducted under trading plans and do not relate to freshly-exercised stock options. Director Paul V. Barber reported selling 100,000 shares last week at prices in the range of $82.70-to-$84.88 per share, all of which were held by several revocable living trusts for which the Director is a beneficiary and may be deemed to control investment decisions. After this sizable sell-off, the Director holds an indirect ownership stake of 694,291 shares. The shares of the provider of cloud-based solutions have gained 24% since the beginning of the year and are trading near their all-time high of $85. ServiceNow’s solutions are designed to automate workflow and can enable large companies to improve their workforce efficiency. The company has been growing at an incredible pace since its IPO back in 2012 and still has a wide array of opportunities ahead. ServiceNow’s primary priority at the moment is to lure more clients to its cloud-based services, which are expected to boost its top- and bottom-line in the quarters and years ahead. In the meantime, 30 hedge funds within our database had positions in the promising company at the end of the June quarter, stockpiling 5.50% of its outstanding shares. Christopher Lord’s Criterion Capital Management slightly upped its stake in ServiceNow Inc. (NYSE:NOW) during the third quarter to 2.80 million shares.