Benzinga - by Avi Kapoor, Benzinga Staff Writer.
The Nasdaq 100 closed higher by around 0.5% on Tuesday. 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.
Jacobs Solutions
- The Trade: Jacobs Solutions Inc. (NYSE: J) Executive Chair Steven J Demetriou sold a total of 10,666 shares at an average price of $127.75. The insider received around $851,582 from selling those shares.
- What’s Happening: The company, last month, said revenue grew 10.5% Y/Y to $4.29 billion for the fourth quarter, beating the consensus of $4.16 billion..
- What Jacobs Solutions Does: Jacobs Solutions is a global provider of engineering, design, procurement, construction, and maintenance services as well as cyber engineering and security solutions.
NVIDIA
- The Trade: NVIDIA Corporation (NASDAQ: NVDA) Director Dawn E Hudson sold a total of 1,000 shares at an average price of $492.53. The insider received around $492,525 from selling those shares.
- What’s Happening: NVIDIA, last month, announced its plans to hire approximately twenty-four positions for its autonomous driving team, with recruiting spanning across Beijing, Shanghai and Shenzhen.
- What NVIDIA Does: Nvidia is a leading developer of graphics processing units.
- The Trade: G-III Apparel Group, Ltd. (NASDAQ: GIII) Chief Financial Officer/Treas Neal Nackman sold a total of 31,762 shares at an average price of $35.29. The insider received around $1.12 million from selling those shares.
- What’s Happening: G-III Apparel recently reported a third-quarter FY24 sales decline of 1% year-on-year to $1.07 billion, missing the analyst consensus of $1.13 billion.
- What G-III Apparel Group Does: G-III Apparel Group Ltd is a textile company. It makes a wide range of apparel, footwear, and accessories that it sells under its own brands, licensed brands, and private-label brands.
- The Trade: Hewlett Packard Enterprise Company (NYSE: HPE) Phil Mottram sold a total of 50,428 shares at an average price of $16.77. The insider received around $845,678 from selling those shares.
- What’s Happening: On Nov. 21, Best Buy posted upbeat earnings for its third quarter, but lowered its FY24 guidance.
- What Hewlett Packard Enterprise Does: Hewlett Packard Enterprise named Marie Myers as Executive Vice President and CFO effective Jan. 15, 2024.
Check This Out: Top 5 Financial Stocks That May Keep You Up At Night In December
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.