Benzinga - US crude oil futures traded lower this morning 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.
Bristol-Myers Squibb
- The Trade: Bristol-Myers Squibb Company (NYSE: NYSE:BMY) EVP, Chief Human Resources Ann Powell sold a total of 16,250 shares at an average price of $80.45. The insider received around $1.31 million from selling those shares.
- What’s Happening: Bristol Myers Squibb recently announced topline data from COMMANDS Phase 3 study of Reblozyl (luspatercept-aamt) in adult patients with very low-, low- or intermediate-risk myelodysplastic syndromes (MDS) who require RBC transfusions.
- What Bristol-Myers Squibb Does: Bristol-Myers Squibb discovers, develops, and markets drugs for various therapeutic areas, such as cardiovascular, cancer, and immune disorders.
Crocs
- The Trade: Crocs, Inc. (NASDAQ: CROX) President Michelle Poole sold a total of 10,507 shares at an average price of $ $89.04. The insider received around $935.55 thousand as a result of the transaction.
- What’s Happening: Baird maintained Crocs with an Outperform and raised the price target from $100 to $150.
- What Crocs Does: Crocs Inc is engaged in the design, development, marketing, distribution, and sale of casual lifestyle footwear accessories for men, women, and children.
Global Payments
- The Trade: Global Payments Inc. (NYSE: GPN) Director John Bruno sold a total of 4,807 shares at an average price of $97.47. The insider received around $468.54 thousand from selling those shares.
- What’s Happening: Baird downgraded Global Payments from Outperform to Neutral and lowered the price target from $144 to $118.
- What Global Payments Does: Global Payments is a leading provider of payment processing and software solutions and focuses on serving small and midsize merchants.
Mastercard
- The Trade: Mastercard Incorporated (NYSE: NYSE:MA) 10% owner Mastercard Foundation sold a total of 354,425 shares at an average price of $335.80. The insider received around $119.02 million from selling those shares.
- What’s Happening: The company recently posted upbeat quarterly earnings.
- What Mastercard Does: Mastercard is the second- largest payment processor in the world, having processed close to $6 trillion in purchase transactions during 2021.
JPMorgan Chase (NYSE:JPM)
- The Trade: JPMorgan Chase & Co. (NYSE: JPM) CEO Commercial Banking Douglas Petno sold a total of 6,649 shares at an average price of $135.01. The insider received around $693.83 thousand from selling those shares.
- What’s Happening: JPMorgan, last month, posted upbeat Q3 earnings.
- What JPMorgan Chase Does: JPMorgan Chase is one of the largest and most complex financial institutions in the United States, with nearly $4 trillion in assets.