Benzinga - by Avi Kapoor, Benzinga Staff Writer.
The Nasdaq 100 closed higher by over 20 points on Friday. 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.
Opendoor Technologies
- The Trade: Opendoor Technologies Inc. (NASDAQ: OPEN) President, Sell Direct & Svcs. Megan Meyer sold a total of 4,808 shares at an average price of $3.98. The insider received around $19,136 from selling those shares.
- What’s Happening: JMP Securities analyst Nicholas Jones recently maintained Opendoor Technologies with an Outperform and raised the price target from $3.5 to $5.
- What Opendoor Technologies Does: Opendoor Technologies Inc is a digital platform for residential real estate. This platform enables customers to buy and sell houses online.
Model N
- The Trade: Model N, Inc. (NYSE: MODN) Chief Services Officer Mark Anderson sold a total of 2,350 shares at an average price of $24.98. The insider received around $58,703 from selling those shares.
- What’s Happening: JP Morgan analyst Anne Samuel, last month, downgraded Model N from Overweight to Neutral and lowered the price target from $30 to $25.
- What Model N Does: Model N Inc is a provider of cloud revenue management solutions for life science and technology companies.
- The Trade: RH (NYSE: RH) Edward T Lee sold a total of 2,624 shares at an average price of $264.50. The insider received around $694,058 from selling those shares.
- What’s Happening: RH, last month, reported worse-than-expected third-quarter financial results..
- What RH Does: RH is a luxury retailer operating in the $143 billion domestic furniture and home furnishing industry.
- The Trade: Laureate Education, Inc. (NASDAQ: LAUR) 10% owner Snow Phipps Group LLC sold a total of 153,449 shares at an average price of $13.31. The insider received around $2.04 million from selling those shares.
- What’s Happening: Laureate Education, during November, posted upbeat quarterly results.
- What Laureate Education Does: Laureate Education Inc is an international community of universities. The company provides higher education programs and services to students through an international network of licensed universities and higher education institutions.
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