Coinbase Global, Bristol-Myers Squibb And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed higher by over 100 points on Monday. Investors, meanwhile, focused on some notable insider trades.

When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company’s prospects or that they view the stock as being overpriced. 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.

Bristol-Myers Squibb

• The Trade: Bristol-Myers Squibb Company BMY EVP, Chief Human Resources Ann Powell sold a total of 17,986 shares at an average price of $61.25. The insider received around $1.1 million from selling those shares.
• What’s Happening: The FDA approved Bristol Myers Squibb's Reblozyl for initial anemia treatment in low- to intermediate-risk myelodysplastic syndromes.
• What Bristol-Myers Squibb Does: Bristol-Myers Squibb discovers, develops, and markets drugs for various therapeutic areas, such as cardiovascular, cancer, and immune disorders.

Have a look at our premarket coverage here

Schlumberger

• The Trade: Schlumberger Limited SLB EVP & CFO Stephane Biguet sold a total of 6,250 shares at an average price of $56.85. The insider received around $355,313 from selling those shares.
• What’s Happening: Schlumberger bagged a five-year contract from Petrobras to deploy their Delfi digital platform across the enterprise.
• What SLB Does: SLB, formerly known as Schlumberger, is the largest oilfield service firm in the world, with expertise in myriad disciplines, including reservoir performance, well construction, production enhancement, and more recently, digital solutions.

Coinbase Global

• The Trade: Coinbase Global, Inc. COIN Chief Accounting Officer Jennifer N Jones sold a total of 1,704 shares at an average price of $77.76. The insider received around 132,503 from selling those shares.
• What’s Happening: Coinbase, a dominant force in the crypto exchange world, acquired an equity stake Monday in Circle, the co-founder of the USD Coin.
• What Coinbase Global Does: Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States. The company intends to be the safe and regulation-compliant point of entry for retail investors and institutions into the cryptocurrency economy.

Andersons

• The Trade: The Andersons, Inc. ANDE VP and Treasurer Brian K Walz sold a total of 3,414 shares at an average price of $51.26. The insider received around $175,002 from selling those shares.
• What’s Happening: The Andersons announced a fourth quarter 2023 cash dividend of 18.5 cents ($0.185) per share payable on Oct. 20, 2023, to shareholders of record as of Oct. 2, 2023.
• What Andersons Does: Andersons Inc is an agriculture company that conducts business in North America. Its operations are segmented into trade, ethanol, plant nutrient, and rail.

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