The Nasdaq dropped by more than 190 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.
Delta Air Lines
- The Trade: Delta Air Lines, Inc. DAL SVP, Fin & Controller William C Carroll sold a total of 8,060 shares at an average price of $39.97. The insider received around $322.17 thousand from selling those shares.
- What's Happening: Delta recently issued Q1 EPS guidance below estimates.
- What Delta Air Lines Does: Atlanta-based Delta Air Lines is one of the world's largest airlines, with a network of over 300 destinations in more than 50 countries.
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- The Trade: Marvell Technology, Inc. MRVL EVP, Chief Operations Officer Chris Koopmans sold a total of 8,000 shares at an average price of $48.00. The insider received around $384 thousand as a result of the transaction.
- What's Happening: Marvell recently announced CFO transition.
- What Marvell Technology Does: Marvell Technology is a leading fabless chipmaker focused on networking and storage applications.
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- The Trade: Couchbase, Inc. BASE SVP & Chief Financial Officer Gregory N Henry sold a total of 10,411 shares at an average price of $15.09. The insider received around $157.13 thousand from selling those shares.
- What's Happening: Guggenheim recently initiated coverage on Couchbase with a Buy rating and announced a price target of $20.
- What Couchbase Does: Couchbase Inc provides a modern cloud database that offers the robust capabilities required for business-critical applications on a highly scalable and available platform.
- The Trade: Lyft, Inc. LYFT Director Agnes Mary Wilderotter sold a total of 1,826 shares at an average price of $16.65. The insider received around $30.4 thousand from selling those shares.
- What's Happening: MoffettNathanson recently initiated coverage on Lyft with a Market Perform rating and announced a price target of $15.
- What Lyft Does: Lyft is the second-largest ride-sharing service provider in the U.S., connecting riders and drivers over the Lyft app.
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