US crude oil futures traded lower 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.
JPMorgan Chase (NYSE:JPM)
- The Trade: JPMorgan Chase & Co. (NYSE: JPM) CEO Commercial Banking Douglas Petno sold a total of 5,139 shares at an average price of $125.02. The insider received around $642.46 thousand from selling those shares.
- What’s Happening: JPMorgan recently reported better-than-expected Q3 EPS results.
- 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.
Jabil
- The Trade: Jabil Inc. (NYSE: JBL) EVP, GC, CCO & Assist Corp Sec Robert Katz sold a total of 26,805 shares at an average price of $63.95. The insider received around $1.71 million as a result of the transaction.
- What’s Happening: Jabil, last month, reported fourth-quarter FY22 revenue growth of 21.9% year-on-year to $9.03 billion.
- What Jabil Does: Jabil Inc is a United States-based company engaged in providing manufacturing services and solutions. It provides comprehensive electronics design, production and product management services to companies in various industries and end markets.
Atlassian
- The Trade: Atlassian Corporation (NASDAQ: TEAM) Co-CEO, Co-Founder Farquhar Scott sold a total of 8,614 shares at an average price of $200.71. The insider received around $1.73 million from selling those shares.
- What’s Happening: Morgan Stanley (NYSE:MS) recently maintained Atlassian with an Overweight and lowered the price target from $430 to $375.
- What Atlassian Does: Atlassian produces software that helps teams work together more efficiently and effectively. The company provides project planning and management software, collaboration tools, and IT help desk solutions.