US crude oil futures traded 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: NVIDIA Corporation NVDA Director Mark A Stevens sold a total of 87,500 shares at an average price of $119.65. The insider received around $10.47 million from selling those shares.
- What’s Happening: Deutsche Bank maintained NVIDIA with a Hold and lowered the price target from $165 to $140.
- What NVIDIA Does: Nvidia is the top designer of discrete graphics processing units that enhance the experience on computing platforms.
- The Trade: Accenture plc ACN Chief Executive - Europe Jean-Marc Ollagnier sold a total of 6,250 shares at an average price of $254.99. The insider received around $1.59 million as a result of the transaction.
- What’s Happening: JP Morgan recently maintained Accenture with an Overweight and lowered the price target from $329 to $306.
- What Accenture Does: Accenture is a leading global IT-services firm that provides consulting, strategy, and technology and operational services.
Have a look at our premarket coverage here .
- The Trade: Darden Restaurants, Inc. DRI SVP, Chief People Officer King Sarah H sold a total of 6,795 shares at an average price of $131.59. The insider received around $894.17 thousand from selling those shares.
- What’s Happening: Keybanc recently maintained Darden Restaurants with an Overweight and raised the price target from $136 to $150.
- What Darden Restaurants Does: Darden Restaurants is the largest restaurant operator in the U.S. full-service space, with consolidated revenue of $9.6 billion in fiscal 2022 resulting in 3%-4% full-service market share (per NRA data and our calculations).
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.