Trulieve Cannabis (NYSE:TRLV) Stock Price Down 6.2% Following Insider Selling

Trulieve Cannabis Corp. (NYSE:TRLV) traded down 6.2% during mid-day trading on Monday following insider selling activity. The company 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 company’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $9.35, for a total value of $1,915,020.25. Following the completion of the sale, the chief executive officer owned 2,693,724 shares of the company’s stock, valued at $25,186,319.40. This represents a 7.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $1,322,943.16. Following the completion of the sale, the chief executive officer owned 2,898,539 shares of the company’s stock, valued at approximately $27,420,178.94. This trade represents a 4.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In related news, CEO Kim A. Rivers sold 137,535 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $9.36, for a total transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analyst Weigh In

Several equities analysts recently commented on TRLV shares. Zacks Research raised Trulieve Cannabis to a “hold” rating in a research report on Thursday, June 18th. Weiss Ratings began coverage on shares of Trulieve Cannabis in a research note on Tuesday, June 16th. They issued a “sell (d-)” rating for the company. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce”.

Trulieve Cannabis Trading Down 5.8%

About Trulieve Cannabis

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.