The Nasdaq 100 closed higher by over 100 points on Thursday. 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.
- The Trade: Cogent Communications Holdings, Inc. CCOI Chairman, CEO and President David Schaeffer sold a total of 45,000 shares at an average price of $66.87. The insider received around $3.01 million from selling those shares.
- What’s Happening: Cogent Communications shar reported better-than-expected second-quarter earnings results.
- What Cogent Communications Does: Cogent carries over one fifth of the world's internet traffic over its network and is a broadband provider for businesses.
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- The Trade: Weyerhaeuser Company WY Senior Vice President Denise Merle sold a total of 7,500 shares at an average price of $32.29. The insider received around $242,152 from selling those shares.
- What’s Happening: Weyerhaeuser posted better-than-expected quarterly earnings.
- What Weyerhaeuser Does: Weyerhaeuser ranks among the world's largest forest product companies.
- The Trade: Trimble Inc. TRMB President and CEO Rob Painter sold a total of 2,500 shares at an average price of $50.34. The insider received around $125,850 from selling those shares.
- What’s Happening: Trimble posted upbeat second-quarter results.
- What Trimble Does: Trimble Inc provides location-based solutions that are used in global positioning system (GPS), laser, optical and inertial technologies. Its products portfolio includes 3D laser scanning, flow and application control systems, monitoring systems, water management, and navigation infrastructure.
- The Trade: Mesa Laboratories, Inc. MLAB Director Bradley John Schmieder sold a total of 3,000 shares at an average price of $123.32. The insider received around $369,965 from selling those shares.
- What’s Happening: Mesa Laboratories posted upbeat quarterly earnings.
- What Mesa Laboratories Does: Mesa Laboratories Inc manufactures life sciences tools and critical quality control products. It operates in 4 divisions: Sterilization and Disinfection Control, which manufactures and sells biological, cleaning, and chemical indicators.
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