Benzinga - by Avi Kapoor, Benzinga Staff Writer.
The Nasdaq 100 closed higher by over 2% 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.
Couchbase
- The Trade: Couchbase, Inc. (NASDAQ: BASE) Director Lynn M Christensen sold a total of 14,532 shares at an average price of $20.52. The insider received around $298,163 from selling those shares.
- What’s Happening: Couchbase, last month, reported upbeat results for its third quarter and issued strong revenue outlook for FY24.
- What Couchbase Does: Couchbase Inc provides a modern cloud database that offers the robust capabilities required for business-critical applications on a highly scalable and available platform.
Robinhood Markets
- The Trade: Robinhood Markets, Inc. (NASDAQ: HOOD) CEO Vladimir Tenev sold a total of 250,000 shares at an average price of $12.01. The insider received around $3 million from selling those shares.
- What’s Happening: Keybanc maintained an Overweight rating on the stock and raised its price target from $12 to $14.
- What Robinhood Markets Does: Robinhood Markets Inc is creating a modern financial services platform. It designs its own products and services and delivers them through a single, app-based cloud platform supported by proprietary technology.
- The Trade: ATI Inc. (NYSE: ATI) Chief Legal & Compl. Officer Elliot S Davis sold a total of 12,123 shares at an average price of $43.37. The insider received around $525,775 from selling those shares.
- What’s Happening: ATI, during November, posted better-than-expected quarterly earnings.
- What ATI Does: ATI Inc supplies specialty metals to various end markets, including aerospace and defense, oil and gas, automotive, and electrical energy, among many others.
- The Trade: TG Therapeutics, Inc. (NASDAQ: TGTX) Director Laurence N Charney sold a total of 17,500 shares at an average price of $19.03. The insider received around $333,025 from selling those shares.
- What’s Happening: TG Therapeutics, during November, reported third-quarter Briumvi sales of $25.1 million compared to $16 million in Q2 FY23 in the U.S., with total net product revenue of approximately $48.9 million since launch.
- What TG Therapeutics Does: TG Therapeutics Inc is a fully-integrated, commercial-stage, biopharmaceutical company focused on the acquisition, development, and commercialization of novel treatments for B-cell diseases.
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