Benzinga - The Nasdaq 100 closed slightly higher on Monday. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it indicates their concern in the company’s prospects or that they view the stock as being overpriced. Either way, this signals an opportunity to go short on the stock. 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.
Apple
- The Trade: Apple Inc. (NASDAQ: AAPL) Senior Vice President Luca Maestri sold a total of 69,996 shares at an average price of $165.25. The insider received around $11.57 million from selling those shares.
- What’s Happening: Apple announced the launch of a new high-yield savings account for Apple Card that will allow users to start earning interest right from their iPhones.
- What Apple Does: Apple designs a wide variety of consumer electronic devices, including smartphones (iPhone), tablets (iPad), PCs (Mac), smartwatches (Apple Watch), and AirPods.
Zoom Video Communications
- The Trade: Zoom Video Communications, Inc. (NASDAQ: ZM) Chief Accounting Officer Shane Crehan sold a total of 11,049 shares at an average price of $68.13. The insider received around $752.77 thousand from selling those shares.
- What’s Happening: Zoom announced plans to acquire employee communication and engagement platform Workvivo.
- What Zoom Video Does: Zoom Video Communications provides a communications platform that connects people through video, voice, chat, and content sharing.
Clearwater Paper
- The Trade: Clearwater Paper Corporation (NYSE: CLW) Sr. VP and CFO John Michael Murphy sold a total of 10,679 shares at an average price of $32.52. The insider received around $347.29 thousand from selling those shares.
- What’s Happening: Clearwater Paper posted a loss for its fourth quarter.
- What Clearwater Paper Does: Clearwater Paper Corp is engaged in the manufacturing and selling of private label tissue, paperboard, and pulp-based products.
- The Trade: Garrett Motion Inc. (NASDAQ: GTX) 10% owner Stephen Freidheim sold a total of 163,612 shares at an average price of $8.21. The insider received around $1.34 million from selling those shares.
- What’s Happening: Garrett Motion said it sees preliminary Q1 net sales of $970 million.
- What Garrett Motion Does: Garrett Motion Inc designs, manufactures and sells engineered turbocharger and electric-boosting technologies for light and commercial vehicle original equipment manufacturers (OEMs) and the vehicle independent aftermarket, as well as automotive software solutions.