The Nasdaq Composite declined by over 100 points on Monday. 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.
Hewlett Packard Enterprise
- The Trade: Hewlett Packard Enterprise Company (NYSE: HPE) EVP and CFO Tarek Robbiati sold a total of 80,421 shares at an average price of $14.28. The insider received around $1.15 million from selling those shares.
- What’s Happening: Hewlett Packard Enterprise confirmed previous FY22 outlook.
- What Hewlett Packard Enterprise Does: Hewlett Packard Enterprise is an information technology vendor that provides hardware and software to enterprises.
Accenture
- The Trade: Accenture plc (NYSE: NYSE:ACN) Chair and CEO Julie Spellman Sweet sold a total of 8,600 shares at an average price of $284.61. The insider received around $2.45 million as a result of the transaction.
- What’s Happening: Accenture subsidiary Accenture Federal Services (AFS) won a spot on a Department of Veterans Affairs (VHA) contract that will deliver innovative healthcare technology solutions likely for scaling into clinical production.
- What Accenture Does: Accenture is a leading global IT-services firm that provides consulting, strategy, and technology and operational services.
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Chubb (NYSE:CB)
- The Trade: Chubb Limited (NYSE: CB) Chairman and CEO Evan Greenberg sold a total of 24,049 shares at an average price of $207.91. The insider received around $5 million from selling those shares.
- What’s Happening: The company recently posted downbeat quarterly earnings.
- What Chubb Does: ACE acquired Chubb in the first quarter of 2016 and assumed the Chubb name. The combination makes the new Chubb one of the largest domestic property and casualty insurers, with operations in 54 countries spanning commercial and personal P&C insurance, reinsurance, and life insurance.
KB Home
- The Trade: KB Home (NYSE: KBH) EVP, Real Estate & Bus. Dev. Albert Z Praw sold a total of 29,777 shares at an average price of $28.77. The insider received around $856.68 thousand from selling those shares.
- What’s Happening: Raymond James recently downgraded KB Home from Strong Buy to Market Perform..
- What KB Home Does: KB Home is an American construction company that focuses on residential construction.