Benzinga - by Lisa Levin, Benzinga Editor.
The Nasdaq 100 closed higher by more than 100 points on Monday. 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.
HP
- The Trade: HP Inc. (NYSE: HPQ) 10% owner Warren E Buffett sold a total of 5,125,638 shares at an average price of $25.76. The insider received around $132.04 million from selling those shares.
- What’s Happening: HP reported in-line earnings for its third quarter this week, but lowered its earnings forecast for the full year.
- What HP Does: HP (formerly Hewlett-Packard) is a behemoth in the PC and printing markets.
Trade Desk
- The Trade: The Trade Desk, Inc. (NASDAQ: TTD) President and CEO Jeffrey Terry Green sold a total of 225,000 shares at an average price of $78.02. The insider received around $17.55 million from selling those shares.
- What’s Happening: UBS analyst Chris Kuntarich recently initiated coverage on Trade Desk with a Buy rating and announced a price target of $100.
- What Trade Desk Does: The Trade Desk provides a self-service platform that helps advertisers and ad agencies programmatically find and purchase digital ad inventory (display, video, audio, native, and social) on different devices like computers, smartphones, digital out of home, and connected TVs.
- The Trade: Blackstone Inc. (NYSE: BX) Director Joseph Baratta sold a total of 74,565 shares at an average price of $107.32. The insider received around $8 million from selling those shares.
- What’s Happening: Amicus Therapeutics and Blackstone entered into $430 million strategic financing collaboration.
- What Blackstone Does: Blackstone is one of the world's largest alternative asset managers with $991.3 billion in total asset under management, including $732.0 billion in fee-earning asset under management, at the end of March 2023.
- The Trade: FirstCash Holdings, Inc. (NASDAQ: FCFS) 10% owner Douglas R. Rippel Revocable Trust sold a total of 81,239 shares at an average price of $100.39. The insider received around $8.16 million from selling those shares.
- What’s Happening: The company recently posted better-than-expected second-quarter results.
- What FirstCash Holdings Does: FirstCash Holdings Inc operates pawn stores in the United States and Latin America. Its primary business involves making small loans secured by personal property.
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