Benzinga - by Lisa Levin, Benzinga Editor.
The Nasdaq 100 closed slightly lower on Wednesday. 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.
QUALCOMM
- The Trade: QUALCOMM Incorporated (NASDAQ: QCOM) SVP, Finance and CAO Neil Martin sold a total of 3,098 shares at an average price of $130.00. The insider received around $402,740 from selling those shares.
- What’s Happening: On Nov. 1, Qualcomm reported fourth-quarter revenue of $8.67 billion, which was down 24% year-over-year.
- What QUALCOMM Does: Qualcomm develops and licenses wireless technology and designs chips for smartphones.
Fox
- The Trade: Fox Corporation (NASDAQ: FOX) Keith Rupert Murdoch sold a total of 194,691 shares at an average price of $29.57. The insider received around $5.76 million from selling those shares.
- What’s Happening: FOX Weather has expanded its distribution to include DISH Network and Sling Freestream subscribers.
- What Fox Does: Fox represents the assets not sold to Disney by predecessor firm, Twenty First Century Fox, in 2019.
- The Trade: Target Corporation (NYSE: TGT) Executive Officer Matthew Zabel sold a total of 4,000 shares at an average price of $131.33. The insider received around $525,320 from selling those shares.
- What’s Happening: On Nov. 15, Target reported better-than-expected third-quarter financial results.
- What Target Does: Target serves as the nation's sixth-largest retailer, with its strategy predicated on delivering a gratifying in-store shopping experience and a wide product assortment of trendy apparel, home goods, and household essentials at competitive prices.
- The Trade: Kimberly-Clark Corporation (NYSE: KMB) Chief Legal Officer Jeffrey P Melucci sold a total of 3,000 shares at an average price of $121.71. The insider received around $365,130 from selling those shares.
- What’s Happening: On Oct. 24, Kimberly-Clark reported third-quarter sales growth of 2% Y/Y to $5.13 billion, missing the analyst consensus estimate of $5.15 billion.
- What Kimberly-Clark Does: With more than half of sales from personal care and another third from tissue products, Kimberly-Clark sits as a leading manufacturer in the tissue and hygiene realm.
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