The Nasdaq closed more than 170 points higher on Monday, also posting a loss for the week. Meanwhile, investors noted some notable insider trading.
When an insider sells stock, it indicates concern about the company’s prospects or believes the stock is overpriced. Either way, this presents an opportunity to short the stock. Insider sales should not be viewed as the sole indicator for making investment or trading decisions. At best, it can give you confidence in your sales decisions.
Here are some of the recent notable insider sales.For more information, please check Benzinga insider trading platform.
general motors
- The deal: general motors company GM Executive Vice President Gerald Johnson Sold a total of 15,743 shares The average price is $42.65. The insider received approximately $671.44 thousand from the sale of these shares.
- what’s happening: JP Morgan recently kept Moderna neutral and raised its price target from $132 to $138.
- What General Motors does: GM recently reported better-than-expected fourth-quarter results and announced strong guidance for fiscal 2023.
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microsoft
- The deal: microsoft MSFTMore EVP, Chief Marketing Officer Christopher C Capossela Sold a total of 1,000 shares The average price is $269.38. The insider received approximately $269.38 thousand from the sale of these shares.
- what’s happening: Piper Sandler recently held an overweight on Microsoft and used a higher multiple to raise the target price from $247 to $290 for untapped AI potential.
- What Microsoft does: Microsoft develops and licenses consumer and enterprise software. Known for its Windows operating system and Office productivity suite.
Johnson Controls International
- The deal: Johnson Controls International plc JCIMore VP Chief Accounting & Tax Daniel McConeghy Sold a total of 3,068 shares The average price is $64.43. The insider received approximately $197.67 thousand from the sale of these shares.
- what’s happening: Johnson Controls recently reported disappointing first quarter sales results and issued guidance.
- What Johnson Controls International does: Johnson Controls manufactures, installs and services HVAC systems, building management systems and controls, industrial refrigeration systems, fire protection and security solutions.
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marvel technology
- The deal: Marvell Technology, Inc. MRVL EVP, Storage Products Group Dan Christman Sold a total of 6,778 shares The average price is $46.05. The insider received approximately $312.13 thousand from the sale of these shares.
- what’s happening: Marvel recently announced a change in its CFO.
- Marvell Technology Features: Marvell Technology is a leading fabless chip manufacturer specializing in networking and storage applications.
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