Benzinga - by Lisa Levin, Benzinga Editor. The Nasdaq 100 closed 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) Chief Operating Officer Javier Olivan sold a total of 4,277 shares at an average price of $293.00. The insider received around $1.25 million from selling those shares.
- What’s Happening: Meta's Threads app will launch web version early this week, the Wall Street Journal reported.
- What Meta Platforms Does: Meta is the world's largest online social network, with 3.8 billion family of apps monthly active users. Users engage with each other in different ways, exchanging messages and sharing news events, photos, and videos.
Dell Technologies
- The Trade: Dell Technologies Inc. (NYSE: DELL) Co-Chief Operating Officer Charles Anthony Whitten sold a total of 191,009 shares at an average price of $55.39. The insider received around $10.58 million from selling those shares.
- What’s Happening: Morgan Stanley said its checks indicate the company is ramping its AI server builds.
- What Dell Technologies Does: Dell Technologies is a broad information technology vendor, primarily supplying hardware to enterprises.
- The Trade: Global Payments Inc. (NYSE: GPN) Senior EVP and CIO Guido F. Sacchi sold a total of 14,502 shares at an average price of $124.47. The insider received around $1.81 million from selling those shares.
- What’s Happening: Global Payments reported strong second-quarter earnings and raised its FY23 guidance.
- What Global Payments Does: Global Payments is a leading provider of payment processing and software solutions and focuses on serving small and midsize merchants.
- The Trade: QUALCOMM Incorporated (NASDAQ: QCOM) SVP, Finance and CAO Neil Martin sold a total of 4,752 shares at an average price of $110.19. The insider received around $523,623 from selling those shares.
- What’s Happening: In a twist to international business proceedings, the European Commission has now mandated the U.S-based Qualcomm to secure EU antitrust consent before concluding its acquisition of Israeli firm, Autotalks.
- What QUALCOMM Does: Qualcomm develops and licenses wireless technology and designs chips for smartphones.
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