 Lakeland Financial Inc NASDAQ:LKFN was trading 1.1 higher from the previous closing price. A Form 4 filing filed with the SEC on Tuesday, August 11 showed that Senior Vice President Steiner Jonathan P sold 2,500 shares at an average price of 50.23. The transaction moved the executives stake in Lakeland Financial Inc. to 5,000 shares.The Importance of Insider Transactions Insider transactions shouldnt be used primarily to make an investing decision, however an insider transaction can be an important factor in the investing decision.Insiders buying stock after a notable sell off can indicate an insiders long-term belief in the success of the company; insiders buying stock at new highs can be an indication the exec doesnt feel the stock is overvalued. Conversely, insiders who are selling stock at new lows can potentially indicate some kind of capitulation moment. Insiders selling at new highs can indicate that exec wants to take some profit and lock in a gain.Important Transaction Codes Investors prefer focusing on transactions which take place in the open market, indicated in the Form 4 with codes P for purchase and S for sale. An open-market transaction means the insider went into the market of their own volition and made an active decision about the potential path for a company and its stock moving forward.Transaction codes other than P or S are often viewed with less conviction as they are often not tied to a decision by the exec. As an example, transaction code C indicates the conversion of an option. Transaction code A indicates the insider may have been forced to sell shares in order to receive compensation the exec was promised upon being hired by a company.See more from Benzinga Stocks That Hit 52-Week Highs On Monday Lakeland Financial: Q2 Earnings Insights Earnings Scheduled For July 27, 2020C 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. 