US crude oil futures traded sharply lower this morning on Tuesday. 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: Twitter, Inc. TWTR General Manager of Core Tech Nick Caldwell V sold a total of 10,921 shares at an average price of $38.38. The insider received around $419.21 thousand from selling those shares.
- What’s Happening: Twitter’s lawyers are calling Elon Musk’s attempts to terminate his $44 billion purchase of the social media platform “invalid and wrongful.”
- What Twitter Does: Twitter, founded in 2006, operates as a platform for public self-expression and conversation in real-time.
- The Trade: Kellogg Company K 10% owner Kellogg W K Foundation sold a total of 146,153 shares at an average price of $72.68. The insider received around $10.62 million as a result of the transaction.
- What’s Happening: Kellogg, in collaboration with Nickelodeon, recently launched Kellogg's Apple Jacks Slime cereal.
- What Kellogg Does: Kellogg Company, headquartered in Battle Creek, Michigan, manufactures and markets snacks and convenience foods.
Have a look at our premarket coverage here .
- The Trade: DoorDash, Inc. DASH Director Shona Brown sold a total of 1,250 shares at an average price of $69.33. The insider received around $86.66 thousand from selling those shares.
- What’s Happening: Citigroup recently maintained the stock with a Buy rating but lowered its price target from $138 to $118.
- What DoorDash Does: DoorDash, headquartered in San Francisco, California, operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally.
- The Trade: Incyte Corporation INCY EVP and General Manager US Barry Flannelly sold a total of 2,873 shares at an average price of $79.38. The insider received around $228.06 thousand from selling those shares.
- What’s Happening: Olumiant (baricitinib), a Janus kinase (JAK) inhibitor, was developed by Incyte and launched in collaboration with Eli Lilly And Co, recently received FDA approval for hair loss disorder known as alopecia areata (AA).
- What Incyte Does: Incyte Corporation, headquartered in Wilmington, Delaware, focuses on the discovery, development, and commercialization of proprietary therapeutics.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.