Snowflake, Commercial Metals And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed slightly higher on Monday. Investors, meanwhile, focused on some notable insider trades.

When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company’s prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.

Below is a look at a few recent notable insider sales. For more, check out Benzinga's insider transactions platform.

Commercial Metals Company

• The Trade: Commercial Metals Company CMC Chairman and CEO Barbara Smith sold a total of 50,000 shares at an average price of $52.51. The insider received around $2.63 million from selling those shares.
• What’s Happening: Commercial Metals reported better-than-expected third-quarter results.
• What Commercial Metals Does: Commercial Metals operates steel mills, steel fabrication plants, and metal recycling facilities in the United States and Poland.

Have a look at our premarket coverage here

Snowflake

• The Trade: Snowflake Inc. SNOW Director Michael Speiser sold a total of 500,000 shares at an average price of $177.67. The insider received around $88.84 million from selling those shares.
• What’s Happening: Snowflake announced a partnership with NVIDIA to aid organizations in creating AI models with own data.
• What Snowflake Does: Founded in 2012, Snowflake is a data lake, warehousing, and sharing company that came public in 2020.

Quanex Building Products

• The Trade: Quanex Building Products Corporation NX Director William Griffiths sold a total of 25,000 shares at an average price of $27.08. The insider received around $677,086 from selling those shares.
• What’s Happening: Quanex Building Prods reported upbeat quarterly results.
• What Quanex Building Products Does: Quanex Building Products Corp is a manufacturer of components sold to original equipment manufacturers in the building products industry.

PGT Innovations

• The Trade: PGT Innovations, Inc. PGTI Director Rodney Hershberger sold a total of 5,000 shares at an average price of $27.10. The insider received around $135,500 from selling those shares.
• What’s Happening: PGT Innovations acquired the remaining outstanding 25% ownership interest in Eco Enterprises LLC (Eco).
• What PGT Innovations Does: PGT Innovations Inc is a leading manufacturer of impact-resistant aluminum and vinyl-framed windows and doors and offers a broad range of fully customizable window and door products.

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