When insiders sell stock, it indicates that they are concerned about the company’s prospects or that they view the stock as too expensive. Either way, this indicates an opportunity to go short on the stock. Insider sales should not be considered the sole indicator for making an investment or trading decision. At best, it can convince a sales decision.
Below are some recent notable insider sales. For more, check out Benzinga’s Insider Trading platform.
The trade: Dell Technologies Inc. (NYSE: DELL) CEO and President Scott Thompson sold a total of 68543 shares at an average price of $105.00. The insider received $7,197,015.00 as a result of the transaction. The insider also bought a total of 33,842 shares.
What is going on: The US tax authorities confirmed the tax-exempt status of Dell Technologies’ planned spin-off from VMware for federal income tax purposes.
What Dell Technologies does: Born from Dell’s 2016 acquisition of EMC, Dell Technologies is a leading provider of servers and storage products through its ISG segment; PCs, monitors and peripherals through the CSG division; and virtualization software through VMware.
The trade: Snap Inc. (NYSE: SNAP) CEO Evan Spiegel a total of 695641 shares sold at an average price of $80.76. The insider received $56,178,066.09 from the sale of those shares.
What is going on: Zynga recently announced plans to launch its upcoming multiplayer social deception game ReVamp in select markets exclusively for Snap’s Snapchat.
What Snap does: Calling itself a camera company, Snap has one of the most popular social networking apps, Snapchat, in developed regions like North America and Europe.
The trade: Adobe Inc. (NASDAQ: ADBE) Chairman, President and CEO Shantanu Narayen sold 40000 shares in total at an average price of $620.26. The insider received $24,810,481.89 as a result of the transaction.
What is going on: Adobe reported positive third quarter results last week and provided strong forecasts for the current quarter.
What Adobe does: Adobe provides content creation, document management, and digital marketing and advertising software and services to creative professionals and marketers to create, manage, deliver, measure, optimize, and engage compelling content across multiple operating systems, devices, and media.
The trade: Micron Technology, Inc. (NASDAQ: MU) SVP Chief People Officer April Arnzen sold a total of 8300 shares at an average price of $73.32. The insider received 608,556.00 from the sale of those shares.
What is going on: Micron is all set to report its quarterly results today.
What Micron does: Micron has traditionally focused on designing and manufacturing DRAM for PCs and servers. The company then expanded into the NAND flash memory market.
The trade: Marriott International, Inc. (NASDAQ: MAR) Stephanie Linnartz sold a total of 15703 shares at an average price of $150.24. The insider received $2,359,142.14 from the sale of those shares.
What is going on: Marriott International recently signed an agreement with Progetto Majestic Srl to bring the W Hotels Worldwide brand to the Tuscan city of Florence, Italy.
What Marriott does: Marriott operates more than 1.4 million rooms from approximately 30 brands. Luxury represents almost 9% of the total number of rooms, while full service, limited service and timeshare make up 43%, 46% and 2% of all units respectively.
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