US crude oil futures traded lower this morning on Friday. 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.

Patterson-UTI Energy

• The Trade: Patterson-UTI Energy, Inc. (NASDAQ:PTEN) President and CEO Andrew William Hendricks Jr sold a total of 100,000 shares at an average price of $13.76. The insider received around $1.38 million from selling those shares.
• What’s Happening: Morgan Stanley recently maintained Patterson-UTI Energy with an Overweight and lowered the price target from $20 to $18.
• What Patterson-UTI Energy Does: Patterson-UTI Energy is one of the largest land rig drilling contractors in the United States and maintains moderately sized pressure-pumping operations primarily in Texas and the Appalachian region.

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Box

• The Trade: Box, Inc. (NYSE:BOX) CFO Dylan Smith sold a total of 13,000 shares at an average price of $26.45. The insider received around $343.81 thousand as a result of the transaction.
• What’s Happening: Box reported better-than-expected Q1 sales and issued Q2 sales guidance above estimates in May.
• What Box Does: Box is a cloud-based content services platform that provides cloud-based storage and workflow collaboration services for enterprise customers.

Have a look at our premarket coverage here .

National Beverage

• The Trade: National Beverage Corp. (NASDAQ:FIZZ) Director Cecil D Conlee sold a total of 12,000 shares at an average price of $49.52. The insider received around $594.24 thousand from selling those shares.
• What’s Happening: National Beverage reported a decline in FY22 earnings.
• What National Beverage Does: National Beverage Corp is one of the top 10 non-alcoholic beverage companies in the U.S.