Trulieve Cannabis (NYSE:TRLV) Trading Down 6.2% on Insider Selling

Trulieve Cannabis Corp. (NYSE:TRLV) shares were down 6.2% during mid-day trading on Monday following insider selling activity. The stock traded as low as $9.51 and last traded at $9.4710. Approximately 181,491 shares changed hands during trading, a decline of 63% from the average daily volume of 495,035 shares. The stock had previously closed at $10.10.

Specifically, CEO Kim A. Rivers sold 204,815 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $9.35, for a total value of $1,915,020.25. Following the completion of the transaction, the chief executive officer directly owned 2,693,724 shares in the company, valued at approximately $25,186,319.40. The trade was a 7.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Kim A. Rivers sold 139,846 shares of the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $9.46, for a total transaction of $1,322,943.16. Following the sale, the chief executive officer directly owned 2,898,539 shares of the company’s stock, valued at approximately $27,420,178.94. The trade was a 4.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In other news, CEO Kim A. Rivers sold 137,535 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $9.36, for a total value of $1,287,327.60. Following the sale, the chief executive officer directly owned 3,038,385 shares in the company, valued at approximately $28,439,283.60. This trade represents a 4.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analyst Weigh In

Several research firms recently commented on TRLV. Weiss Ratings initiated coverage on shares of Trulieve Cannabis in a research note on Tuesday, June 16th. They set a “sell (d-)” rating for the company. Zacks Research upgraded shares of Trulieve Cannabis to a “hold” rating in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Trulieve Cannabis currently has a consensus rating of “Reduce”.

Trulieve Cannabis Price Performance

Trulieve Cannabis Company Profile

Trulieve Cannabis Corp. is a vertically integrated cannabis company focused on the cultivation, processing, and retail sale of medical and adult-use cannabis products. The company offers a range of products that may include flower, pre-rolls, concentrates, edibles, vape products, and topicals through its dispensary network and branded product portfolio.

Trulieve’s operations have been centered primarily in the United States, with a strong presence in Florida and additional markets in other states where cannabis is legally regulated.