US crude oil futures traded higher this morning on Friday. 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.
Twitter (NYSE:TWTR)
- The Trade: Twitter, Inc. (NYSE: TWTR) Chief Financial Officer Ned Segal sold a total of 5,000 shares at an average price of $32.76. The insider received around $163.8 thousand from selling those shares.
- What’s Happening: Rosenblatt upgraded Twitter from Neutral to Buy and raised the price target from $33 to $52.
- What Twitter Does: Twitter is an open distribution platform for and a conversational platform around short-form text (a maximum of 280 characters), image, and video content.
Zoom Video Communications
- The Trade: Zoom Video Communications, Inc. (NASDAQ: ZM) Chief Operating Officer Aparna Bawa sold a total of 2,404 shares at an average price of $107.97. The insider received around $259.55 thousand as a result of the transaction.
- What’s Happening: Piper Sandler recently maintained Zoom Video with a Neutral and raised the price target from $96 to $115.
- What Zoom Video Does: Zoom Video Communications provides a communications platform that connects people through video, voice, chat, and content sharing.
Heliogen
- The Trade: Heliogen, Inc. (NYSE: HLGN) 10% owner Kittu Krishna Kolluri sold a total of 162,425 shares at an average price of $2.10. The insider received around $340.3 thousand from selling those shares.
- What’s Happening: Heliogen posted a Q1 loss of $0.32 per share in May.
- What Heliogen Does: Heliogen Inc is a concentrated solar energy system that is being developed to unlock the power of sunlight to replace fossil fuels.
Read at Benzinga