Gold futures traded higher this morning on Thursday. 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.
- The Trade: Marriott International, Inc. MAR Director Debra Lee sold a total of 2,145 shares at an average price of $171.30. The insider received around $367.44 thousand from selling those shares.
- What’s Happening: Marriott International recently signed an agreement with The Red Sea Development Company to debut its Ritz-Carlton Reserve brand off the west coast of Saudi Arabia.
- What Marriott Does: Marriott operates nearly 1.5 million rooms across roughly 30 brands. At the end of 2021, luxury represented 10% of total rooms, while full service, limited service, and time-shares were 43%, 46%, and 2% of all units, respectively.
- The Trade: NVIDIA Corporation NVDA Director Mark A Stevens sold a total of 278,000 shares at an average price of $185.20. The insider received around $51.49 million as a result of the transaction.
- What’s Happening: BofA analyst Vivek Arya believes chipmaker Nvidia could benefit from growth in several areas.
- What NVIDIA Does: Nvidia is the top designer of discrete graphics processing units that enhance the experience on computing platforms. The firm's chips are used in a variety of end markets, including high-end PCs for gaming, data centers, and automotive infotainment systems.
Have a look at our premarket coverage here .
Delta Air Lines
- The Trade: Delta Air Lines, Inc. DAL EVP – Global Sales Steven M Sear sold a total of 12,780 shares at an average price of $41.65. The insider received around $532.29 thousand from selling those shares.
- What’s Happening: Delta issued quarterly revenue guidance in the $12.4B-$12.5B range versus the $12.93B consensus estimate.
- What Delta Air Lines Does: Atlanta-based Delta Air Lines is one of the world's largest airlines, with a network of over 300 destinations in more than 50 countries.
- The Trade: Electronic Arts Inc. EA CEO and Board Chair Andrew Wilson sold a total of 8,182 shares at an average price of $139.00. The insider received around $1.14 million from selling those shares.
- What’s Happening: Electronic Arts, last month, reported Q4 revenue of $1.825 billion.
- What Electronic Arts Does: EA is one of the world's largest third-party video game publishers and has transitioned from a console-based video game publisher to the one of the largest publishers on consoles, PC, and mobile.
- The Trade: United Airlines Holdings, Inc. UAL Chris Kenny sold a total of 9,700 shares at an average price of $47.88. The insider received around $464.44 thousand from selling those shares.
- What’s Happening: United Airlines, last month, said its demand environment has continued to improve, resulting in a higher unit revenue outlook for Q2..
- What United Airlines Does: United Airlines is a major U.S. network carrier. United's hubs include San Francisco, Chicago, Houston, Denver, Los Angeles, New York/Newark, and Washington, D.C.
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