The Dow Jones dropped by around 280 points on Friday. 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: Dell Technologies Inc. DELL Pres., Glob. Sales & Cust. Ops William Scannell sold a total of 91,938 shares at an average price of $42.62. The insider received around $3.92 million from selling those shares.
- What’s Happening: Dell Technologies, last month, issued soft guidance.
- What Dell Technologies Does: Dell Technologies is a broad information technology vendor, primarily supplying hardware to enterprises.
Dow Records Losses For Second Straight Week But Investor Optimism Improves
- The Trade: Broadcom Inc. AVGO Director Raul J Fernandez sold a total of 1,170 shares at an average price of $575.00. The insider received around $672.75 thousand as a result of the transaction.
- What’s Happening: Broadcom’s $61 billion Vmware, deal could hit a roadblock with EU antitrust regulators poised to open a full-scale investigation into the deal.
- What Broadcom Does: Broadcom--the combined entity of Broadcom and Avago--boasts a highly diverse product portfolio across an array of end markets.
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- The Trade: NVIDIA Corporation NVDA Principal Accounting Officer Donald F. Robertson Jr. sold a total of 5,425 shares at an average price of $172.67. The insider received around $936.74 thousand from selling those shares.
- What’s Happening: HSBC initiated coverage on the stock with a Reduce rating and $136 price target.
- What NVIDIA Does: Nvidia is the top designer of discrete graphics processing units that enhance the experience on computing platforms.
Advanced Micro Devices
- The Trade: Advanced Micro Devices, Inc. AMD EVP and CSO Paul Darren Grasby sold a total of 16,153 shares at an average price of $70.95. The insider received around $1.15 million from selling those shares.
- What’s Happening: AMD, last month, reported Q3 revenue of $5.565 billion, up 29% year-over-year.
- What AMD Does: Advanced Micro Devices designs microprocessors for the computer and consumer electronics industries.
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