Benzinga - by Avi Kapoor, Benzinga Staff Writer.
The Nasdaq 100 closed lower by around 0.2% 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.
Morgan Stanley
- The Trade: Morgan Stanley (NYSE:MS) Chief Human Resources Officer Mandell Crawley sold a total of 6,954 shares at an average price of $99.61. The insider received around $692,663 from selling those shares.
- What's Happening: Morgan Stanley recently entered into a deal to acquire around $700 million of property loans from the failed Signature Bank through a consortium.
- What Morgan Stanley Does: Morgan Stanley is a global investment bank whose history, through its legacy firms, can be traced back to 1924.
QUALCOMM
- The Trade: QUALCOMM Incorporated (NASDAQ:QCOM) President and CEO Cristiano R Amon sold a total of 8,100 shares at an average price of $190.01. The insider received around $1.54 million from selling those shares.
- What's Happening: On May 14, Qualcomm and Aramco reported a collaboration that includes accelerating development of industrial 4G/5G NGN ecosystem.
- What QUALCOMM Does: Qualcomm develops and licenses wireless technology and designs chips for smartphones.
- The Trade: Yelp Inc (NYSE:YELP) CFO David A Schwarzbach sold a total of 2,750 shares at an average price of $38.07. The insider received around $104,693 from selling those shares.
- What's Happening: On May 9, Yelp reported a first-quarter revenue miss.
- What Yelp Does: Yelp Inc operates in the online content market based in the United States. It provides a web-based platform and mobile application to bridge the gap between businesses and consumers.
- The Trade: FactSet Research Systems Inc (NYSE:FDS) EVP, Dealmakers & Wealth Goran Skoko sold a total of 1,500 shares at an average price of $445.81. The insider received around $668,715 from selling those shares.
- What's Happening: On March 21, FactSet Research reported second-quarter fiscal 2024 sales growth of 6.0% Y/Y to $545.95 million, marginally missing the consensus of $546.80 million.
- What FactSet Research Does: FactSet provides financial data and portfolio analytics to the Global investment community.
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