The Nasdaq tumbled by more than 200 points 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: Halliburton Company HAL EVP, Secretary and CLO Van Beckwith sold a total of 11,044 shares at an average price of $39.50. The insider received around $436.24 thousand from selling those shares.
- What’s Happening: Halliburton recently announced a successful installation of the industry's first single trip, electro-hydraulic wet connect in deepwater for Petrobras in Brazil.
- What Halliburton Does: Halliburton is one of the three largest oilfield service firms in the world, offering superior expertise in a number of business lines, including completion fluids, wireline services, cementing, and countless others.
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- The Trade: HP Inc. HPQ CFO Marie Myers sold a total of 6,000 shares at an average price of $29.32. The insider received around $175.92 thousand as a result of the transaction.
- What’s Happening: HP recently reported Q4 financial results and issued Q1 guidance.
- What HP Does: HP Incorporated is a leading provider of computers, printers, and printer supplies.
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- The Trade: Workday, Inc. WDAY Director George Still Jr sold a total of 5,000 shares at an average price of $169.38. The insider received around $846.92 thousand from selling those shares.
- What’s Happening: Workday recently reported better-than-expected Q3 EPS and sales results.
- What Workday Does: Workday is a software company that offers human capital management, or HCM, financial management, and business planning solutions.
- The Trade: Williams-Sonoma, Inc. WSM PRESIDENT POTTERY BARN BRAND Marta Benson sold a total of 10,599 shares at an average price of $114.88. The insider received around $1.15 million from selling those shares.
- What’s Happening: Morgan Stanley recently downgraded the stock from Equal-Weight to Underweight and cut its price target from $150 to $100.
- What Williams-Sonoma Does: With a wide retail and direct-to-consumer presence, Williams-Sonoma is a leader in the $300 billion domestic home category, focused on expanding its exposure in the B2B, marketplace, and franchise areas.
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