Benzinga - by Avi Kapoor, Benzinga Staff Writer.
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.
First Solar
- The Trade: First Solar, Inc. (NASDAQ:FSLR) Chief People and Comm. Officer Caroline Stockdale sold a total of 12,406 shares at an average price of $205.00. The insider received around $2.54 million from selling those shares.
- What's Happening: On May 21, Piper Sandler raised its price target on the stock from $195 to $219.
- What First Solar Does: First Solar designs and manufactures solar photovoltaic panels, modules, and systems for use in utility-scale development projects.
Schlumberger
- The Trade: Schlumberger Limited (NYSE:SLB) President New Energy Gavin Rennick sold a total of 38,083 shares at an average price of $48.28. The insider received around $1.84 million from selling those shares.
- What's Happening: Schlumberger reported upbeat sales for its first quarter on April 19.
- What Schlumberger Does: SLB is the largest oilfield service firm in the world, with expertise in myriad disciplines, including reservoir performance, well construction, production enhancement, and more recently, digital solutions.
- The Trade: Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) CEO and President Reshma Kewalramani sold a total of 15,202 shares at an average price of $447.00. The insider received around $6.8 million from selling those shares.
- What's Happening: On May 6, Vertex Pharmaceuticals posted stronger-than-expected results for its first quarter.
- What Vertex Pharmaceuticals Does: Vertex Pharmaceuticals is a global biotechnology company that discovers and develops small-molecule drugs for the treatment of serious diseases.
- The Trade: Lattice Semiconductor Corporation (NASDAQ:LSCC) SVP, CFO Sherri R Luther sold a total of 16,465 shares at an average price of $71.98. The insider received around $1.19 million from selling those shares.
- What's Happening: On May 17, Needham analyst Quinn Bolton reiterated Lattice Semiconductor with a Buy and maintained a price target of $80.
- What Lattice Semiconductor Does: Lattice Semiconductor Corp is a developer of semiconductor technology that it distributes through products, solutions, and licenses.
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