Benzinga - by Avi Kapoor, Benzinga Staff Writer.
The Nasdaq 100 closed slightly higher 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.
CrowdStrike Holdings
- The Trade: CrowdStrike Holdings, Inc. (NASDAQ: CRWD) President and CEO George Kurtz sold a total of 100,000 shares at an average price of $283.96. The insider received around $28.4 million from selling those shares.
- What’s Happening: Cantor Fitzgerald analyst Jonathan Ruykhaver reiterated CrowdStrike Holdings with an Overweight and maintained a $240 price target.
- What CrowdStrike Holdings Does: CrowdStrike is a cloud-based cybersecurity company specializing in next-generation endpoint and cloud workload protection.
NVIDIA
- The Trade: NVIDIA Corporation (NASDAQ: NVDA) Director Mark A Stevens sold a total of 54,148 shares at an average price of $545.30. The insider received around $29.53 million from selling those shares.
- What’s Happening: Nvidia is looking to boost its AI chip sales in India significantly through a significant deal with Yotta, an Indian data center operator.
- What NVIDIA Does: Nvidia is a leading developer of graphics processing units. Traditionally, GPUs were used to enhance the experience on computing platforms, most notably in gaming applications on PCs.
- The Trade: TD SYNNEX Corporation (NYSE: SNX) Americas President Michael Urban sold a total of 5,000 shares at an average price of $103.67. The insider received around $518,350 from selling those shares.
- What’s Happening: TD SYNNEX reported a fourth-quarter FY23 revenue decline of 11.3% Y/Y to $14.407 billion, missing the consensus of $14.476 billion.
- What TD SYNNEX Does: TD Synnex Corp is a global distributor and solutions aggregator for the IT ecosystem.
- The Trade: Science Applications International Corporation (NYSE: SAIC) EVP, CHRO Michelle Ohara sold a total of 4,000 shares at an average price of $127.45. The insider received around $509,800 from selling those shares.
- What’s Happening: Science Applications International was awarded a $156 million contract for IT support services with U.S. Army.
- What Science Applications International Does: Science Applications International Corp provides technical, engineering and enterprise IT services primarily to the U.S. government.
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