Benzinga - The Nasdaq Composite closed slightly higher on Tuesday. 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.
PriceSmart
- The Trade: PriceSmart, Inc. (NASDAQ: PSMT) President and COO John Hildebrandt sold a total of 9,018 shares at an average price of $70.45. The insider received around $635.34 thousand from selling those shares.
- What’s Happening: Pricesmart recently posted upbeat Q1 earnings.
- What PriceSmart Does: Pricesmart Inc is principally engaged in operating U.S.-style membership shopping warehouse clubs that offer consumer goods at low prices.
NVIDIA
- The Trade: NVIDIA Corporation (NASDAQ: NVDA) Director Mark A Stevens sold a total of 65,000 shares at an average price of $165.54. The insider received around $10.76 million as a result of the transaction.
- What’s Happening: Keybanc recently maintained NVIDIA with an Overweight and lowered the price target from $230 to $220.
- What NVIDIA Does: Nvidia is the top designer of discrete graphics processing units that enhance the experience on computing platforms.
Accenture
- The Trade: Accenture plc (NYSE: ACN) Chair and CEO Julie Spellman Sweet sold a total of 10,296 shares at an average price of $280.93. The insider received around $2.89 million from selling those shares.
- What’s Happening: Accenture agreed to acquire SKS Group.
- What Accenture Does: Accenture is a leading global IT-services firm that provides consulting, strategy, and technology and operational services.