Robinhood, NetApp And These 2 Other Stocks Insiders Are Selling

Robinhood, NetApp And These 2 Other Stocks Insiders Are Selling

The Nasdaq tumbled by around 0.5% on Wednesday. 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.


Robinhood Markets

  • The Trade: Robinhood Markets, Inc. HOOD Chief Legal Officer Daniel M. Gallagher, Jr.
  • sold a total of 12,500 shares at an average price of $9.77. The insider received around $122.11 thousand from selling those shares.
  • What’s Happening: Robinhood Markets recently introduced a new product. Robinhood traders can now join the queue for Robinhood Retirement, which will allow customers to register an individual retirement account (IRA) and pick between a regular or Roth IRA to start saving for retirement.
  • What Robinhood Does: Robinhood Markets Inc is creating a modern financial services platform. It designs its own products and services and delivers them through a single, app-based cloud platform supported by proprietary technology.

Investor Sentiment Drops Further After S&P 500 Falls For Fifth Session


NetApp

  • The Trade: NetApp, Inc. NTAP CEO George Kurian sold a total of 4,500 shares at an average price of $65.29. The insider received around $293.81 thousand as a result of the transaction.
  • What’s Happening: Loop Capital recently downgraded NetApp from Buy to Hold and lowered the price target from $100 to $67.
  • What NetApp Does: NetApp is a leading provider of enterprise data management and storage solutions.

Have a look at our premarket coverage here .


Group 1 Automotive

  • The Trade: Group 1 Automotive, Inc. GPI CEO Earl J Hesterberg sold a total of 15,000 shares at an average price of $189.89. The insider received around $2.85 million from selling those shares.
  • What’s Happening: Group 1 Automotive’s board, last month, increased its buyback by $161 million.
  • What Group 1 Automotive Does: Group 1 owns and operates 47 collision centers and 203 automotive dealerships in the U.S. and the U.K., offering 35 brands of automobiles altogether.

 

Tenet Healthcare

  • The Trade: Tenet Healthcare Corporation THC Director Richard W Fisher sold a total of 9,817 shares at an average price of $43.86. The insider received around $430.57 thousand from selling those shares.
  • What’s Happening: Tenet Healthcare, during late October, reported worse-than-expected Q3 sales results.
  • What Tenet Healthcare Does: Tenet Healthcare is a Dallas-based healthcare services organization.
Posted In: Insider SellingNewsShort IdeasInsider TradesMarketsTrading Ideas