Benzinga - by Lisa Levin, Benzinga Editor.
The Nasdaq 100 closed higher by around 0.5% 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.
Lattice Semiconductor
- The Trade: Lattice Semiconductor Corporation (NASDAQ: LSCC) Director Robin Ann Abrams sold a total of 10,000 shares at an average price of $83.53. The insider received around $835,263 from selling those shares.
- What’s Happening: Rosenblatt reiterated Lattice Semiconductor with a Buy and maintained a $110 price target.
- What Lattice Semiconductor Does: Lattice Semiconductor Corp is a developer of semiconductor technology that it distributes through products, solutions, and licenses.
Splunk
- The Trade: Splunk Inc. (NASDAQ: SPLK) SVP, CLO, Global Affairs & Sec Scott Morgan sold a total of 4,000 shares at an average price of $144.50. The insider received around $578,000 from selling those shares.
- What’s Happening: Cisco announced it will acquire the company for roughly $28 billion.
- What Splunk Does: Splunk is a cloud-first software company that focuses on analyzing machine data. The company is a major player in two markets: security and full-stack monitoring & analysis.
- The Trade: Schlumberger Limited (NYSE: SLB) EVP and CFO Stephane Biguet sold a total of 6,250 shares at an average price of $58.93. The insider received around $368,313 from selling those shares.
- What’s Happening: Citigroup maintained SLB with a Buy and raised the price target from $66 to $70.
- What SLB Does: SLB, formerly known as Schlumberger, 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: T2 Biosystems, Inc. (NASDAQ: TTOO) 10% owner CRG Partners III (Cayman) Lev AIV I L.P. sold a total of 6,338,211 shares at an average price of $0.30. The insider received around $1.9 million from selling those shares.
- What’s Happening: The FDA cleared the company's biothreat panel for commercial distribution.
- What T2 Biosystems Does: T2 Biosystems Inc provides rapid in vitro diagnostic tests to hospitals and laboratories. The company's core technology is T2 Magnetic Resonance (T2MR) technology, which can detect a variety of molecular targets directly from whole blood.
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