Benzinga - by Lisa Levin, Benzinga Editor.
The Nasdaq 100 closed lower by more than 50 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.
Caleres
- The Trade: Caleres, Inc. (NYSE: CAL) Executive Chair Diane M Sullivan sold a total of 20,317 shares at an average price of $27.93. The insider received around $567,436 from selling those shares.
- What’s Happening: Caleres put forward its three-year strategic and financial plan in conjunction with its Oct. 5 Investor Day.
- What Caleres Does: Caleres Inc is a footwear retailer in the United States. The Company's business are organized into two reportable segments are famous Footwear and Brand Portfolio.
Cloudflare
- The Trade: Cloudflare, Inc. (NYSE: NET) Director Carl Ledbetter sold a total of 10,016 shares at an average price of $66.54. The insider received around $666,462 from selling those shares.
- What’s Happening: Cloudflare announced collaborations with Meta Platforms, Microsoft and NVIDIA.
- What Cloudflare Does: Cloudflare is a software company based in San Francisco, California, that offers security and web performance offerings by utilizing a distributed, serverless content delivery network, or CDN.
- The Trade: NetApp, Inc. (NASDAQ: NTAP) CEO George Kurian sold a total of 4,500 shares at an average price of $76.26. The insider received around $343,180 from selling those shares.
- What’s Happening: NetApp and Ducati Corse renewed partnership and introduce co-engineered data management and insights solution.
- What NetApp Does: NetApp Inc is a leading provider of enterprise data management and storage solutions. The company's segments include Hybrid Cloud and Public Cloud.
- The Trade: IRadimed Corporation (NASDAQ: IRMD) CEO, President and Chairman Roger E Susi sold a total of 10,000 shares at an average price of $39.79. The insider received around $397,939 from selling those shares.
- What’s Happening: IRadimed reported better-than-expected second-quarter financial results and issued FY23 guidance above estimates.
- What IRadimed Does: iRadimed Corp develops, manufactures, markets and distributes a Magnetic Resonance Imaging (MRI) compatible intravenous (IV) infusion pump system, and MRI compatible patient vital signs monitoring system, and accessories and services relating to them.
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