Eli Lilly, Hewlett Packard Enterprise And 2 Other Stocks Insiders Are Selling

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

When insiders sell shares, it indicates their concern in the company’s prospects or that they view the stock as being overpriced. Either way, this signals an opportunity to go short on the stock. 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.

Chico's FAS

• The Trade: Chico's FAS, Inc. (NYSE:CHS) Director Bonnie Brooks sold a total of 30,400 shares at an average price of $6.15. The insider received around $186.96 thousand from selling those shares.
• What’s Happening: Chico's reported better-than-expected Q4 sales results.
• What Chico's FAS Does: Chico's FAS Inc is an apparel retailer with a portfolio of private-label brands that sell women's clothing and accessories. Brands include Chico's, White House/Black Market, and Soma Intimates.

Have a look at our premarket coverage here

Boyd Gaming

• The Trade: Boyd Gaming Corporation (NYSE:BYD) Director, Co-Executive Chair William S Boyd sold a total of 39,525 shares at an average price of $64.52. The insider received around $2.55 million from selling those shares.
• What’s Happening: Boyd Gaming reported better-than-expected Q4 EPS and sales results.
• What Boyd Gaming Does: Boyd Gaming Corp is a multi-jurisdictional gaming company.

Hewlett Packard Enterprise

• The Trade: Hewlett Packard Enterprise Company (NYSE:HPE) EVP, GM, Storage Thomas E Black Jr sold a total of 34,088 shares at an average price of $15.05. The insider received around $512.9 thousand from selling those shares.
• What’s Happening: Hewlett Packard Enterprise reported better-than-expected Q1 results and issued strong Q2 revenue guidance.
• What Hewlett Packard Enterprise Does: Hewlett Packard Enterprise is an information technology vendor that provides hardware and software to enterprises.

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Eli Lilly and Company

• The Trade: Eli Lilly and Company (NYSE:LLY) EVP, ERM & CECO Alonzo Weems sold a total of 1,000 shares at an average price of $318.85. The insider received around $318.85 thousand from selling those shares.
• What’s Happening: Alzheimer's drug from Eli Lilly failed to slow cognitive decline over about 4.5 years of treatment in individuals with amyloid plaque but no clinical symptoms.
• What Eli Lilly Does: Eli Lilly is a drug firm with a focus on neuroscience, endocrinology, cancer, and immunology.