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SLB, Micron Technology And 2 Other Stocks Insiders Are Selling

Published 15/05/2024, 13:14
© Reuters.  SLB, Micron Technology And 2 Other Stocks Insiders Are Selling
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Benzinga - by Avi Kapoor, Benzinga Staff Writer.

The Nasdaq 100 closed higher by more than 100 points on Tuesday. 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.

Micron Technology

  • The Trade: Micron Technology, Inc. (NASDAQ:MU) EVP, Global Operations Manish H Bhatia sold a total of 40,650 shares at an average price of $120.89. The insider received around $4.91 million from selling those shares.
  • What's Happening: On May 13, Barclays analyst Tom O’Malley maintained Micron with an Overweight and raised the price target from $120 to $145.
  • What Micron Technology Does: Micron is one of the largest semiconductor companies in the world, specializing in memory and storage chips.
Have a look at our premarket coverage here

Vulcan Materials

  • The Trade: Vulcan Materials Company (NYSE:VMC) President Thompson S Baker II sold a total of 15,210 shares at an average price of $272.95. The insider received around $4.15 million from selling those shares.
  • What's Happening: On May 2, Vulcan Materials reported upbeat results for the first quarter.
  • What Vulcan Materials Does: Vulcan Materials is the United States’ largest producer of construction aggregates (crushed stone, sand, and gravel).
Schlumberger
  • The Trade: Schlumberger Limited (NYSE:SLB) Chief Technology Officer Demosthenis Pafitis sold a total of 63,095 shares at an average price of $48.26. The insider received around $3.04 million from selling those shares.
  • What's Happening: On April 19, SLB posted upbeat quarterly sales.
  • What SLB 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.
JPMorgan Chase
  • The Trade: JPMorgan Chase & Co. (NYSE:JPM) CEO CCB Marianne Lake sold a total of 11,734 shares at an average price of $200.02. The insider received around $2.35 million from selling those shares.
  • What's Happening: JP Morgan Chase, during April, inaugurated a new Community Center branch in the Grand Concourse neighborhood of the Bronx.
  • What JPMorgan Chase Does: JPMorgan Chase is one of the largest and most complex financial institutions in the United States, with nearly $3.9 trillion in assets.
Check This Out: Investor Optimism Improves Ahead Of CPI Report, Nasdaq Settles At Record High

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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