Recent insider trends for Glaukos Corporation (NYSE:GKOS) have caught the attention of investors. Insider data is useful because it can reveal what a company’s executives and largest shareholders feel about a stock. In this case, the data has some interesting things to say about how GKOS might perform in the future.
Institutions own 106.93% of Glaukos Corporation (GKOS)’s shares. The total value of these holdings, in millions, is $1,522. Among active positions in the latest quarter, 94 holders increased their positions by a total of 11.03 million shares, 73 holders decreased the positions by a total of 3.95 million shares, and 18 holders held their positions. This works out to a net increase in ownership of 7.08 million shares, and suggests that institutions are feeling bullish about the stock.
Among new and sold out positions, 31 holders initiated new positions by a total of 4.22 million shares and 30 holders exited their positions by a total of 1.6 million shares. This nets out to an increase of 2.63 million shares and is a bullish sign for GKOS.
In the last three months, insiders executed a total of 14 trades. 0 of these were buys and 14 were sells. Insider ownership decreased by a total of 1.89 million shares, which suggests that GKOS’s key executives are feeling less optimistic about the outlook for the stock. The data from the past twelve months tells a similar story: insiders executed 5 buys and 36 sells, and ownership decreased by a net of 4.12 million shares.
Short interest is another tool that analysts use to gauge investor sentiment. It represents the number of a stock’s shares that are being shorted by investors. Glaukos Corporation (NYSE:GKOS)’s short interest is 5.44 million shares, or 21.25% of the float. This represents an increase of 7% in the number of shares being shorted compared to the previous reading, and implies that investors felt more pessimistic about the stock during the past two weeks.
Given what the insider ownership patterns are saying, it makes sense to consider the technicals to see if these pieces of information reach the same conclusion about the outlook for GKOS. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that GKOS is a Strong sell, which implies that GKOS is expected to underperform the market based on prior trading patterns.
Institutional ownership trends suggest that the stock is cheap and the insider trading data indicates that insiders are bearish. Technical indicators (also) suggest that Glaukos Corporation (NYSE:GKOS) is overvalued.