Executives Sell Over $44M Of 4 Stocks

Although gold futures traded slightly lower on Friday, there were a few notable insider trades.

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.

New Fortress Energy

• The Trade: New Fortress Energy Inc. NFE 10% owner Jonathan Rotolo sold a total of 300,000 shares at an average price of $41.61. The insider received around $12.48 million from selling those shares.
• What’s Happening: Credit Suisse maintained New Fortress Energy with an Outperform and raised the price target from $40 to $49.
• What New Fortress Energy Does: New Fortress Energy Inc is an integrated gas-to-power company.

ZoomInfo Technologies

• The Trade: ZoomInfo Technologies Inc. ZI 10% owner Kirk Norman Brown sold a total of 97,559 shares at an average price of $60.08. The insider received around $5.86 million from selling those shares.
• What’s Happening: ZoomInfo, last month, announced plans to open new office near Tel Aviv, Israel.
• What ZoomInfo Technologies Does: ZoomInfo Technologies Inc provides a go-to-market intelligence platform for sales and marketing teams.

Also check this: Executives Buy Over $1.5M Of 4 Penny Stocks

California Resources

• The Trade: California Resources Corporation CRC 10% owner Steven Tananbaum sold a total of 229,302 shares at an average price of $44.34. The insider received around $10.17 million as a result of the transaction.
• What’s Happening: Keybanc maintained California Resources with an Overweight and raised the price target from $50 to $51.
• What California Resources Does: California Resources Corp is an independent oil and natural gas company committed to energy transition in the sector. The firm has some of the lowest carbon intensity production in the US.

Have a look at our premarket coverage here .

Eli Lilly

• The Trade: Eli Lilly and Company LLY 10% owner Lilly Endowment Inc sold a total of 51,851 shares at an average price of $300.92. The insider received around $15.6 million from selling those shares.
• What’s Happening: Morgan Stanley maintained an Overweight rating on the stock and raised its price target from $265 to $364.
• What Eli Lilly Does: Eli Lilly is a drug firm with a focus on neuroscience, endocrinology, oncology, and immunology. Lilly's key products include Alimta and Verzenio for cancer; Jardiance, Trulicity, Humalog, and Humulin for diabetes; and Taltz and Olumiant for immunology.