Benzinga - The Nasdaq closed lower on Friday, but recorded gains last week. 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.
- The Trade: Pinterest, Inc. (NYSE: PINS) SVP, Products Naveen Gavini sold a total of 11,185 shares at an average price of $27.95. The insider received around $312.58 thousand from selling those shares.
- What’s Happening: Raymond James recently initiated coverage on the stock with an Outperform rating and announced a price target of $33.
- What Pinterest Does: Pinterest is an online product and idea discovery platform that helps users gather ideas on everything from recipes to cook to destinations to travel to.
Verint Systems
- The Trade: Verint Systems Inc. (NASDAQ: VRNT) Chairman and CEO Dan Bodner sold a total of 6,064 shares at an average price of $38.54. The insider received around $233.71 thousand from selling those shares. The company’s CFO, President, Director and Chief Administrative Officer also sold the company’s shares.
- What’s Happening: Verint Systems posted upbeat quarterly results.
- What Verint Systems Does: Verint Systems Inc with its subsidiaries helps brands provide Boundless Customer Engagement. The company's solutions help iconic brands close the gap created when it lacks the resources required to deliver experiences that fulfill customer expectations.
Advanced Micro Devices
- The Trade: Advanced Micro Devices, Inc. (NASDAQ: AMD) EVP and CSO Paul Darren Grasby sold a total of 12,500 shares at an average price of $94.85. The insider received around $1.19 million from selling those shares.
- What’s Happening: Piper Sandler maintained an Overweight rating on the stock and raised its price target from $90 to $110.
- What AMD Does: Advanced Micro Devices designs microprocessors for the computer and consumer electronics industries. The majority of its sales are in the personal computer and data center markets via CPUs and GPUs.
- The Trade: Toll Brothers, Inc. (NYSE: TOL) Director Paul Shapiro sold a total of 5,000 shares at an average price of $59.94. The insider received around $299.68 thousand from selling those shares.
- What’s Happening: Toll Brothers posted better-than-expected Q1 results.
- What Toll Brothers Does: Toll Brothers is the leading luxury homebuilder in the United States with an average sale price well above public competitors.