US crude oil futures traded higher, gaining around 1.5% on Wednesday. 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.
Zoom Video Communications
- The Trade: Zoom Video Communications, Inc. ZM Chief Operating Officer Aparna Bawa sold a total of 2,404 shares at an average price of $95.04. The insider received around $228.47 thousand from selling those shares.
- What’s Happening: Zoom Video Communications reported a deal to acquire Solvvy.
- What Zoom Video Communications Does: Zoom Video Communications provides a communications platform that connects people through video, voice, chat, and content sharing.
- The Trade: Texas Instruments Incorporated TXN Sr. Vice President Hagop Kozanian sold a total of 5,904 shares at an average price of $170.23. The insider received around $1.01 million from selling those shares.
- What’s Happening: Texas Instruments, last month, reported Q1 earnings results and issued Q2 guidance below analyst estimates.
- What Texas Instruments Does: Dallas-based Texas Instruments generates over 95% of its revenue from semiconductors and the remainder from its well-known calculators.
- The Trade: Murphy USA Inc. MUSA Director Madison Robert Murphy sold a total of 10,000 shares at an average price of $250.14. The insider received around $2.5 million as a result of the transaction.
- What’s Happening: The company recently posted a sharp rise in quarterly earnings.
- What Murphy USA Does: Murphy USA Inc is an American retailer of gasoline products and convenience-store merchandise operating in the United States.
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