Benzinga - by Avi Kapoor, Benzinga Staff Writer.
The Nasdaq 100 closed lower by over 200 points on Friday. 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.
Cleveland-Cliffs
- The Trade: Cleveland-Cliffs Inc (NYSE: CLF) Director Susan Miranda Green sold a total of 6,500 shares at an average price of $20.40. The insider received around $132,600 from selling those shares.
- What’s Happening: Chief Executive Officer of Cleveland-Cliffs Lourenco Goncalves said he is considering another bid for U.S. Steel if the current Nippon Steel deal falls apart.
- What Cleveland-Cliffs Does: Cleveland-Cliffs Inc is a flat-rolled steel producer and manufacturer of iron ore pellets in North America.
SunOpta
- The Trade: SunOpta Inc. (NASDAQ: STKL) Advisor Joseph Ennen sold a total of 150,000 shares at an average price of $6.89. The insider received around $1.03 million from selling those shares.
- What’s Happening: On Feb. 28, SunOpta posted upbeat quarterly earnings.
- What SunOpta Does: SunOpta Inc is a Canadian company that focuses on a healthy product portfolio.
- The Trade: Allient Inc. (NASDAQ: ALNT) CFO Michael R Leach sold a total of 5,000 shares at an average price of $32.99. The insider received around $164,965 from selling those shares.
- What’s Happening: On March 5, Allient posted upbeat quarterly results.
- What Allient Does: Allient Inc, formerly Allied Motion Technologies Inc designs, manufactures, and sells precision and specialty motion control components and systems.
- The Trade: Sprouts Farmers Market, Inc. (NASDAQ: SFM) Director Douglas Gregory Rauch sold a total of 4,000 shares at an average price of $62.40. The insider received around $249,600 from selling those shares.
- What’s Happening: On Feb. 22, Sprouts Farmers Market reported better-than-expected fourth-quarter results.
- What Sprouts Farmers Market Does: Sprouts Farmers Market Inc offers a unique specialty grocery experience featuring an open layout with fresh produce at the heart of the store.
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