When insiders sell shares, it indicates their concern in the company’s prospects or that they view the stock as being overpriced. Either way, this signals an opportunity to go short on the stock. 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.
Dell Technologies
The Trade: Dell Technologies Inc. (NYSE: DELL) CEO and President Scott Thompson disposed 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 33842 shares.
What’s Happening: The U.S. Internal Revenue Service confirmed the tax-free status of Dell Technologies’ planned spin-off of VMware for federal income tax purposes.
What Dell Technologies Does: Dell Technologies, born from Dell's 2016 acquisition of EMC, is a leading provider of servers and storage products through its ISG segment; PCs, monitors, and peripherals via its CSG division; and virtualization software through VMware.
Snap
The Trade: Snap Inc. (NYSE: SNAP) CEO Evan Spiegel sold a total of 695641 shares at an average price of $80.76. The insider received $56,178,066.09 from selling those shares.
What’s Happening: Zynga recently announced plans to launch the upcoming multiplayer social deception game ReVamp in select markets exclusively for Snap’s Snapchat.
What Snap Does: Snap, which refers to itself as a camera company, has one of the most popular social networking apps, Snapchat, in developed regions such as North America and Europe.
Adobe
The Trade: Adobe Inc. (NASDAQ: ADBE) Chairman, President and CEO Shantanu Narayen sold a total of 40000 shares at an average price of $620.26. The insider received $24,810,481.89 as a result of the transaction.
What’s Happening: Adobe, last week, reported upbeat earnings for its third quarter and issued strong forecast 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 for creating, managing, delivering, measuring, optimizing and engaging with compelling content multiple operating systems, devices and media.
Micron
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 selling those shares.
What’s Happening: Micron is all set to report its quarterly earnings today.
What Micron Does: Micron historically focused on designing and manufacturing DRAM for PCs and servers. The firm then expanded into the NAND flash memory market.
Marriott International
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 selling those shares.
What’s Happening: Marriott International recently signed an agreement with Progetto Majestic S.r.l. to bring the W Hotels Worldwide brand to the Tuscan city of Florence, Italy.
What Marriott Does: Marriott operates over 1.4 million rooms across roughly 30 brands. Luxury represents nearly 9% of total rooms, while full service, limited service, and time-shares are 43%, 46%, and 2% of all units, respectively.
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