Benzinga - by Avi Kapoor, Benzinga Staff Writer.
The Nasdaq 100 closed lower by around 0.1% on Thursday. 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, Chief People Officer April S Arnzen sold a total of 4,890 shares at an average price of $119.30. The insider received around $583,377 from selling those shares.
- What’s Happening: Micron reported better-than-expected second-quarter financial results and issued strong third-quarter guidance on March 20, 2024.
- What Micron Technology Does: Micron is one of the largest semiconductor companies in the world, specializing in memory and storage chips.
DexCom
- The Trade: DexCom, Inc. (NASDAQ: DXCM) EVP Chief Legal Officer Michael Jon Brown sold a total of 2,624 shares at an average price of $140.04. The insider received around $367,472 from selling those shares.
- What’s Happening: On March 13, RBC Capital initiated coverage on the stock with an Outperform rating and $165 price target.
- What DexCom Does: Dexcom designs and commercializes continuous glucose monitoring systems for diabetic patients.
- The Trade: Williams-Sonoma, Inc. (NYSE: WSM) CEO POTTERY BARN BRANDS Marta Benson sold a total of 2,184 shares at an average price of $313.98. The insider received around $685,721 from selling those shares.
- What’s Happening: On March 26, Evercore ISI Group analyst Oliver Wintermantel maintained Williams-Sonoma with an In-Line and raised the price target from $300 to $320.
- What Williams-Sonoma Does: With a retail and direct-to-consumer presence, Williams-Sonoma is a player in the $300 billion domestic home category and $450 billion international home market, focused on expanding its exposure in the B2B ($80 billion total addressable market), marketplace, and franchise areas.
- The Trade: Dropbox, Inc. (NASDAQ: DBX) CFO Timothy Regan sold a total of 3,000 shares at an average price of $24.36. The insider received around $73,074 from selling those shares.
- What’s Happening: On March 22, Citigroup analyst Steven Enders maintained Dropbox with a Neutral and lowered the price target from $31 to $27.
- What Dropbox Does: Dropbox is a leading provider of cloud-storage and content collaboration tools with an emphasis on individuals and SMB.
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