Although the NFIB small business optimism index in the US dropped for a second straight month to 95.7 in February, there were a few 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.

California Resources

• The Trade: California Resources Corporation (NYSE:CRC) 10% owner Ares Partners Holdco Llc disposed a total of around 93,800 shares at an average price of $42.79. The insider received around $4.01 million as a result of the transaction.
• What’s Happening: The company recently reported upbeat quarterly sales.
• What California Resources Does: California Resources Corp is an independent oil and natural gas company committed to energy transition in the sector. The firm has some of the lowest carbon intensity production in the US.

Velodyne Lidar

• The Trade: Velodyne Lidar, Inc. (NASDAQ:VLDR) 10% owner David S Hall sold a total of 5,600,000 shares at an average price of $2.21. The insider received around $12.38 million from selling those shares.
• What’s Happening: The company recently reported upbeat quarterly results.
• What Velodyne Lidar Does: Velodyne Lidar Inc provides smart, powerful lidar solutions. It is known for its broad portfolio of lidar technologies.

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