US gold futures traded lower this morning on Thursday. 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.
Booz Allen Hamilton Holding
- The Trade: Booz Allen Hamilton Holding Corporation (NYSE: BAH) Executive Vice President Karen M Dahut sold a total of 50,068 shares at an average price of $89.06. The insider received around $4.46 million from selling those shares.
- What’s Happening: Barclays (LON:BARC), earlier during the month, downgraded Booz Allen Hamilton from Overweight to Equal-Weight.
- What Booz Allen Hamilton Does: Booz Allen Hamilton Holding Corp is a provider of management consulting services to the U.S. government.
AutoNation
- The Trade: AutoNation, Inc. (NYSE: AN) 10% owner Edward S. Lampert sold a total of 77,619 shares at an average price of $117.55. The insider received around $539.21 thousand as a result of the transaction.
- What’s Happening: The company’s shares have gained around 2% since the start of the year.
- What AutoNation Does: AutoNation is the largest automotive dealer in the United States, with 2021 revenue of $25.8 billion and about 250 dealerships at nearly 350 locations, plus 57 collision centers.
Dropbox
- The Trade: Dropbox, Inc. (NASDAQ: DBX) CFO Timothy Regan sold a total of 2,500 shares at an average price of $22.60. The insider received around $56.5 thousand from selling those shares.
- What’s Happening: The company, last month, posted upbeat Q1 earnings.
- What Dropbox Does: Dropbox is a leading provider of cloud-storage and content collaboration tools with an emphasis on individuals and SMB.
Read at Benzinga