Benzinga - by Avi Kapoor, Benzinga Staff Writer.
The Nasdaq 100 closed slightly lower 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.
TechnipFMC
- The Trade: TechnipFMC plc (NYSE: FTI) Director Carvalho Filho Eleazar de sold a total of 12,491 shares at an average price of $21.20. The insider received over $264,809 from selling those shares.
- What’s Happening: On Feb. 22, TechnipFMC posted upbeat fourth-quarter earnings.
- What TechnipFMC Does: TechnipFMC is the largest pure-play offshore service provider, offering integrated deep-water offshore oil and gas development solutions that span the full spectrum of subsea equipment and subsea engineering and construction services.
USA Compression Partners
- The Trade: USA Compression Partners, LP (NYSE: USAC) Director Eric D Long sold a total of 16,288 shares at an average price of $24.51. The insider received around $399,265 from selling those shares.
- What’s Happening: On Feb. 13, USA Compression Partners reported fourth-quarter fiscal 2023 total revenue growth of 18.4% year-over-year to $225.049 million, beating the consensus of $220.80 million.
- What USA Compression Partners Does: USA Compression Partners LP provides compression services in the United States in terms of total compression fleet horsepower to customers relating to infrastructure applications, including both allowing for the processing and transportation of natural gas through the domestic pipeline system and enhancing crude oil production through artificial lift processes.
- The Trade: Crocs, Inc. (NASDAQ: CROX) Director Douglas J Treff sold a total of 8,997 shares at an average price of $118.00. The insider received around $1.06 million from selling those shares.
- What’s Happening: On Feb. 15, Crocs, reported better-than-expected fourth-quarter financial results.
- What Crocs Does: Crocs Inc is engaged in the design, development, marketing, distribution, and sale of casual lifestyle footwear accessories for men, women, and children.
- The Trade: Roku, Inc. (NASDAQ: ROKU) President, Roku Media Charles Collier sold a total of 12,277 shares at an average price of $65.06. The insider received around $798,742 from selling those shares.
- What’s Happening: On Feb. 15, Roku reported fourth-quarter revenue of $984.42 million, which was up 14% year-over-year. The revenue came in ahead of a Street consensus estimate of $966.3 million.
- What Roku Does: Roku is the leading streaming platform in the U.S. by hours watched with 87.4 billion hours of content streamed in 2022.
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