Benzinga - by Lisa Levin, Benzinga Editor.
The Nasdaq 100 closed lower by around 0.6% 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.
Semrush Holdings
- The Trade: Semrush Holdings, Inc. (NYSE: SEMR) Director Dmitry Melnikov sold a total of 78,978 shares at an average price of $9.78. The insider received around $772,589 from selling those shares.
- What’s Happening: SEMrush posted better-than-expected earnings for the third quarter.
- What Semrush Holdings Does: SEMrush Holdings Inc is engaged in the provision of an online visibility management software-as-a-service platform.
Gap
- The Trade: The Gap, Inc. (NYSE: GPS) EVP Sup Chn, Strat & Transform Sarah Gilligan sold a total of 11,741 shares at an average price of $16.20. The insider received around $190,204 from selling those shares.
- What’s Happening: Gap reported better-than-expected third-quarter financial results.
- What Gap Does: Gap retails apparel, accessories, and personal-care products under the Gap, Old Navy, Banana Republic, and Athleta brands.
- The Trade: Laureate Education, Inc. (NASDAQ: LAUR) 10% owner Wengen Investments Ltd sold a total of 25,180 shares at an average price of $13.27. The insider received around $334,260 from selling those shares.
- What’s Happening: Laureate Education posted upbeat third-quarter earnings.
- What Laureate Education Does: Laureate Education Inc is an international community of universities. The company provides higher education programs and services to students through an international network of licensed universities and higher education institutions.
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