Tesla, Dell And 1 Other Technology Stock Insiders Are Selling

Tesla, Dell And 1 Other Technology Stock Insiders Are Selling

US crude oil futures traded lower 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.

Tesla

  • The Trade: Tesla, Inc. TSLA Chief Financial Officer Zachary Kirkhorn sold a total of 3,750 shares at an average price of $300.59. The insider received around $1.13 million from selling those shares.
  • What’s Happening: Needham upgraded Tesla from Underperform to Hold.
  • What Tesla Does: Founded in 2003 and based in Palo Alto, California, Tesla is a vertically integrated sustainable energy company that also aims to transition the world to electric mobility by making electric vehicles.

Also check this: Netflix To Surge More Than 30%, Plus This Analyst Predicts $24 For Nordstrom

Dropbox

  • The Trade: Dropbox, Inc. DBX Chief Legal Officer Bart Volkmer sold a total of 11,000 shares at an average price of $23.03. The insider received around $253.32 thousand as a result of the transaction.
  • What’s Happening: Keybanc initiated coverage on Dropbox with an Overweight rating and announced a price target of $30.
  • What Dropbox Does: Dropbox is a leading provider of cloud-storage and content collaboration tools with an emphasis on individuals and SMB.

Have a look at our premarket coverage here .

Dell Technologies 

  • The Trade:  Dell Technologies Inc. DELL Pres., Glob. Sales & Cust. Ops William Scannell sold a total of 27,536 shares at an average price of $40.20. The insider received around $1.11 million from selling those shares.
  • What’s Happening: Dell Technologies and Red Hat expanded strategic collaboration to accelerate DevOps in multicloud environments.
  • What Dell Technologies Does: Dell Technologies is a broad information technology vendor, primarily supplying hardware to enterprises. It is focused on premium personal computers and enterprise on-premises data center hardware. 

Posted In: Insider SellingNewsInsider TradesMarketsTrading Ideas