US stock futures traded higher this morning on Tuesday after recording a decline in the previous session. 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: Intuit Inc. INTU EVP, People and Places Laura Fennell sold a total of 10,000 shares at an average price of $392.39. The insider received around $3.92 million from selling those shares.
- What’s Happening: The company, last month, posted better-than-expected quarterly results.
- What Intuit Does: Intuit is a provider of small-business accounting software (QuickBooks), personal tax solutions (TurboTax), and professional tax offerings (Lacerte).
- The Trade: UnitedHealth Group Incorporated UNH EVP Chief People Officer Erin McSweeney sold a total of 1,273 shares at an average price of $499.00. The insider received around $635.65 thousand as a result of the transaction.
- What’s Happening: Loop Capital recently initiated coverage on UnitedHealth Group with a Buy rating and announced a price target of $575.
- What UnitedHealth Group Does: UnitedHealth Group is one of the largest private health insurers, providing medical benefits to 50 million members globally, including 5 million outside the U.S. at the end of 2021.
Have a look at our premarket coverage here .
FactSet Research Systems
- The Trade: FactSet Research Systems Inc. FDS Director Joseph Zimmel sold a total of 1,000 shares at an average price of $390.62. The insider received around $390.62 thousand from selling those shares.
- What’s Happening: FactSet Research Systems recently reported better-than-expected Q3 EPS and sales results.
- What FactSet Research Does: FactSet provides financial data and portfolio analytics to the global investment community. The company aggregates data from third-party data suppliers, news sources, exchanges, brokerages, and contributors into its workstations.
Interactive Brokers Group
- The Trade: Interactive Brokers Group, Inc. IBKR Chairman Thomas Peterffy sold a total of 40,000 shares at an average price of $57.23. The insider received around $2.29 million from selling those shares.
- What’s Happening: TradingView recently announced the integration of Interactive Brokers Group Inc.
- What Interactive Brokers Group Does: Interactive Brokers Group Inc, or IB, conducts broker-dealer agency business and proprietary trading business worldwide.
- The Trade: Enphase Energy, Inc. ENPH President and CEO Badri Kothandaraman sold a total of 38,650 shares at an average price of $200.00. The insider received around $7.73 million from selling those shares.
- What’s Happening: BMO Capital recently maintained Enphase Energy with an Outperform and raised the price target from $215 to $240.
- What Enphase Energy Does: Enphase Energy is a global energy technology company. The company delivers smart, easy-to-use solutions that manage solar generation, storage, and communication on one platform.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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