Benzinga - by Avi Kapoor, Benzinga Staff Writer.
The Nasdaq 100 closed higher by around 0.3% on Tuesday. 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.
Kimbell Royalty Partners
- The Trade: Kimbell Royalty Partners, LP (NYSE: KRP) Director Brett G. Taylor sold a total of 27,163 shares at an average price of $15.51. The insider received around $421,298 from selling those shares.
- What’s Happening: On Feb. 21, Kimbell Royalty Partners posted downbeat quarterly earnings.
- What Kimbell Royalty Partners Does: Kimbell Royalty Partners LP owns and acquires mineral and royalty interests in oil and natural gas properties throughout the United States.
Palantir Technologies
- The Trade: Palantir Technologies Inc. (NYSE: PLTR) Director Lauren Elaina Friedman Stat sold a total of 6,000 shares at an average price of $23.68. The insider received around $142,099 from selling those shares.
- What’s Happening: On Feb. 5, Palantir Technologies reported better-than-expected fourth-quarter sales results.
- What Palantir Technologies Does: Palantir is an analytical software company that focuses on leveraging data to create efficiencies in its clients' organizations.
- The Trade: Exxon Mobil Corporation (NYSE: XOM) Vice President Darrin L Talley sold a total of 2,400 shares at an average price of $113.33. The insider received around $271,980 from selling those shares.
- What’s Happening: On March 19, Mizuho analyst Nitin Kumar maintained Exxon Mobil with a Neutral and raised the price target from $119 to $125.
- What Exxon Mobil Does: ExxonMobil is an integrated oil and gas company that explores for, produces, and refines oil around the world.
- The Trade: Fastly, Inc. (NYSE: FSLY) Director Richard Devon Daniels sold a total of 7,766 shares at an average price of $12.66. The insider received around $98,318 from selling those shares.
- What’s Happening: On Feb. 14, Fastly reported mixed fourth-quarter financial results.
- What Fastly Does: Fastly operates a content delivery network, which is necessary for entities to provide faster and more reliable online content.
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