Gold futures traded lower 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.
Apple
- The Trade: Apple Inc. (NASDAQ: NASDAQ:AAPL) SVP, GC and Secretary Katherine L Adams sold a total of 25,000 shares at an average price of $161.72. The insider received around $4.04 million from selling those shares.
- What’s Happening: Apple is reportedly exploring a new addition to its Services business, underlining Cupertino's focus on this rapidly-growing unit.
- What Apple Does: Apple designs a wide variety of consumer electronic devices, including smartphones (iPhone), tablets (iPad), PCs (Mac), smartwatches (Apple Watch), AirPods, and TV boxes (Apple TV), among others.
- The Trade: Twitter, Inc. (NYSE: TWTR) General Manager of Revenue Bruce Falck sold a total of 20,069 shares at an average price of $48.89. The insider received around $981.2 thousand from selling those shares.
- What’s Happening: Twitter reportedly talked about advertising opportunities on its platform at an event in New York City, even as Tesla CEO Elon Musk prepares to take over the company.
- What Twitter Does: Twitter is an open distribution platform for and a conversational platform around short-form text (a maximum of 280 characters), image, and video content.
Morningstar
- The Trade: Morningstar, Inc. (NASDAQ: MORN) Executive Chairman Joseph Mansueto sold a total of 9,007 shares at an average price of $258.12. The insider received around $2.32 million as a result of the transaction.
- What’s Happening: Morningstar, during April, posted Q1 adjusted EPS of $1.41.
- What Morningstar Does: Morningstar Inc is a provider of independent investment research to financial advisers, asset managers, and investors. The company focuses its operations on two core sectors: data and research.
Western Digital
- The Trade: Western Digital Corporation (NASDAQ: NASDAQ:WDC) SVP & Princ. Acctg Officer Gene Zamiska sold a total of 4,776 shares at an average price of $63.00. The insider received around $300.89 thousand from selling those shares.
- What’s Happening: Elliott Investment Management recently sent a letter to Western Digital's board, calling for a full strategic review of the value that could be created by separating its flash unit.
- What Western Digital Does: Western Digital is a leading vertically-integrated supplier of data storage solutions, spanning both hard disk drives (HDDs) and solid state drives (SSDs).
Read at Benzinga