Benzinga - by Lisa Levin, Benzinga Editor.
The Nasdaq 100 closed lower by around 0.3% on Monday. 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.
Coinbase Global
- The Trade: Coinbase Global, Inc. (NASDAQ: COIN) Director Kathryn Haun sold a total of 9,302 shares at an average price of $99.00. The insider received around $920,898 from selling those shares.
- What’s Happening: Coinbase reported third-quarter total revenue of $674 million, which was down 5% quarter-over-quarter.
- What Coinbase Global Does: Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States.
Oracle
- The Trade: Oracle Corporation (NYSE: ORCL) Director George N. Conrades sold a total of 4,650 shares at an average price of $112.87. The insider received around $524,829 from selling those shares.
- What’s Happening: Edward Jones analyst Josh Olson upgraded Oracle from Hold to Buy.
- What Oracle Does: Oracle provides database technology and enterprise resource planning, or ERP, software to enterprises around the world.
- The Trade: The Southern Company (NYSE: SO) CEO, Southern Nuclear Stephen E Kuczynski sold a total of 5,000 shares at an average price of $68.39. The insider received around $341,950 from selling those shares.
- What’s Happening: Southern announced better-than-expected third-quarter adjusted EPS results.
- What Southern Company Does: Southern is one of the largest utilities in the U.S. The company serves 9 million customers with vertically integrated electric utilities in three states and natural gas distribution utilities in four states.
- The Trade: QUALCOMM Incorporated (NASDAQ: QCOM) Chief Commercial Officer James J Cathey sold a total of 1,000 shares at an average price of $124.00. The insider received around $124,000 from selling those shares.
- What’s Happening: DZ Bank recently upgraded Qualcomm from Hold to Buy and announced a $140 price target
- What QUALCOMM Does: Qualcomm develops and licenses wireless technology and designs chips for smartphones.
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