US stock futures traded lower this morning 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.
- The Trade: Talos Energy Inc. TALO 10% owner Riverstone V Castex Holdings LP sold a total of 286,990 shares at an average price of $24.50. The insider received around $7.03 million from selling those shares.
- What’s Happening: Mexico's President Lopez Obrador recently reached an agreement with Talos Energy regarding Zama project.
- What Talos Energy Does: Talos Energy Inc is an independent oil and gas company primarily involved in offshore exploration and production. The company has operations in the United States, Gulf of Mexico, and offshore Mexico.
- The Trade: Liberty Energy Inc. LBRT 10% owner Schlumberger Technology Corp sold a total of 1,2032,500 shares at an average price of $17.00. The insider received around $204.55 million as a result of the transaction.
- What’s Happening: Piper Sandler recently maintained Liberty Energy with a Neutral and raised the price target from $19.5 to $22.
- What Liberty Energy Does: Liberty Energy Inc, formerly Liberty Oilfield Services Inc provides hydraulic fracturing services--mainly pressure pumping--to onshore E&P firms' major basins throughout North America.
Have a look at our premarket coverage here .
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