Benzinga - by Avi Kapoor, Benzinga Staff Writer.
The Nasdaq 100 closed slightly lower 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.
Meta Platforms
- The Trade: Meta Platforms, Inc. (NASDAQ:META) Director Sheryl Sandberg sold a total of 105,000 shares at an average price of $476.71. The insider received around $50.05 million from selling those shares.
- What's Happening: On May 30, Meta Platforms announced a quarterly cash dividend of 50 cents per share.
- What Meta Platforms Does: Meta is the world’s largest online social network, with nearly 4 billion family of apps monthly active users. Users engage with each other in different ways, exchanging messages and sharing news events, photos, and videos.
Maplebear
- The Trade: Maplebear Inc. (NASDAQ:CART) President and CEO Fidji Simo sold a total of 6,000 shares at an average price of $31.82. The insider received around $190,943 from selling those shares.
- What's Happening: On May 8, Instacart reported quarterly earnings of 43 cents per share, which beat the analyst consensus estimate of a loss of 2 cents per share.
- What Maplebear Does: Maplebear (Instacart) operates a leading grocery delivery platform in the United States and Canada.
- The Trade: Paycom Software, Inc. (NYSE:PAYC) Director, CEO, President and Chairman Chad R. Richison sold a total of 7,800 shares at an average price of $162.40. The insider received around $1.27 million from selling those shares.
- What's Happening: On May 31, Paycom Software announced significant leadership changes.
- What Paycom Software Does: Paycom is a fast-growing provider of payroll and human capital management software primarily targeting clients with 50-10,000 employees in the United States.
- The Trade: Caterpillar Inc. (NYSE:CAT) Chief Human Resources Officer Cheryl H Johnson sold a total of 1,508 shares at an average price of $340.00. The insider received around $512,720 from selling those shares.
- What's Happening: On April 29, Caterpillar announced voluntary delisting from Euronext Paris.
- What Caterpillar Does: Caterpillar is the top manufacturer of heavy equipment, power solutions, and locomotives.
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