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.
Jefferies Financial Group
- The Trade: Jefferies Financial Group Inc. JEF Exec VP, Chief HR Officer Peter Fasolo sold a total of 640,000 shares at an average price of $32.85. The insider received around $21.02 million from selling those shares.
- What’s Happening: The company recently posted upbeat quarterly earnings.
- What Jefferies Financial Does: Jefferies Financial Group Inc is a diversified financial services company.
- The Trade: Accenture plc ACN SEVP & General Counsel Kevin McCarthy sold a total of 8,600 shares at an average price of $266.93. The insider received around $2.3 million as a result of the transaction.
- What’s Happening: Accenture subsidiary Accenture Federal Services won a $189 million contract from the Centers for Disease Control and Prevention (CDC) to accelerate the agency's migration to the cloud.
- What Accenture Does: Accenture is a leading global IT-services firm that provides consulting, strategy, and technology and operational services.
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- The Trade: Yelp Inc. YELP Chief Operating Officer Joseph Nachman sold a total of 6,000 shares at an average price of $36.61. The insider received around $219.68 thousand from selling those shares.
- What’s Happening: Morgan Stanley recently maintained Yelp with an Underweight and raised the price target from $33 to $35.
- What Yelp Does: Yelp Inc operates in the online content market based primarily in the United States. It provides a web-based platform and mobile application to bridge the gap between businesses and consumers.
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