The Nasdaq 100 closed higher by 0.03% 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.
- The Trade: Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold a total of 50,191 shares at an average price of $11.95. The insider received around $599,769 from selling those shares.
- What’s Happening: Snap confirmed a small number of layoffs within its product management team as part of a company reorganization aimed at streamlining operations and accelerating decision-making processes, TechCrunch reported.
- 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.
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- The Trade: The Home Depot, Inc. (NYSE:HD) SVP-Finance, CAO & Controller Kimberly R Scardino sold a total of 1,375 shares at an average price of $306.51. The insider received around $421,451 from selling those shares.
- What’s Happening: Home Depot reported better-than-expected third-quarter results.
- What Home Depot Does: Home Depot is the world's largest home improvement specialty retailer, operating more than 2,300 warehouse-format stores offering more than 30,000 products in store and 1 million products online in the United States, Canada, and Mexico.
- The Trade: Target Corporation (NYSE:TGT) Executive Officer Don Liu sold a total of 16,000 shares at an average price of $130.00. The insider received around $2.08 million from selling those shares.
- What’s Happening: Target reported better-than-expected third-quarter financial results.
- What Target Does: Target serves as the nation's sixth-largest retailer, with its strategy predicated on delivering a gratifying in-store shopping experience and a wide product assortment of trendy apparel, home goods, and household essentials at competitive prices.
Capital One Financial
- The Trade: Capital One Financial Corporation (NYSE:COF) Director Ann Hackett sold a total of 8,000 shares at an average price of $106.47. The insider received around $851,724 from selling those shares.
- What’s Happening: Capital One reported better-than-expected third-quarter financial results.
- What Capital One Financial Does: Capital One is a diversified financial services holding company headquartered in McLean, Virginia.
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