Microsoft, Snap And 2 Other Stocks Insiders Are Selling

The S&P 500 closed lower more than 1% 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.

Microsoft

  • The Trade: Microsoft Corporation MSFT EVP, Chief Commercial Officer Judson Althoff sold a total of 30,000 shares at an average price of $306.09. The insider received around $9.18 million from selling those shares.
  • What’s Happening: Microsoft shares reported better-than-expected Q3 results.
  • What Microsoft Does: Microsoft develops and licenses consumer and enterprise software. It is known for its Windows operating systems and Office productivity suite.

Have a look at our premarket coverage here

Biogen

  • The Trade: Biogen Inc. BIIB EVP, Human Resources Ginger Gregory sold a total of 2,681 shares at an average price of $300.00. The insider received around $804.3 thousand from selling those shares.
  • What’s Happening: The FDA approved Biogen’s Qalsody (tofersen) for amyotrophic lateral sclerosis (ALS) in adults who have a mutation in the superoxide dismutase 1 (SOD1) gene.
  • What Biogen Does: Biogen and Idec merged in 2003, combining forces to market Biogen's multiple sclerosis drug Avonex and Idec's cancer drug Rituxan.

Rexford Industrial Realty

  • The Trade: Rexford Industrial Realty, Inc. REXR Co-CEO, Co-President Howard Schwimmer sold a total of 35,505 shares at an average price of $55.94. The insider received around $1.99 million from selling those shares.
  • What’s Happening: Rexford Industrial Realty posted a rise in Q1 EPS.
  • What Rexford Industrial Realty Does: Rexford Industrial Realty Inc is a real estate investment trust primarily engaged in the acquisition, ownership, and operation of industrial properties in Southern California.

Snap

  • The Trade: Snap Inc. SNAP General Counsel) Michael Osullivan sold a total of 13,000 shares at an average price of $8.55. The insider received around $111.21 thousand from selling those shares.
  • What’s Happening: Snap posted upbeat quarterly earnings.
  • What Snap Does: Snap, which refers to itself as a camera company, has one of the most popular social networking apps,

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