Palo Alto Networks And 2 Other Stocks Insiders Are Selling

U.S. unemployment insurance filings fell for a fourth straight week to the lowest levels since May. Investors, meanwhile, focused on some 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.

Genpact

• The Trade: Genpact Limited G Senior Vice President Balkrishan Kalra sold a total of 8,730 shares at an average price of $47.40. The insider received around $413.77 thousand from selling those shares.
• What’s Happening: The company, last month, posted upbeat quarterly earnings.
• What Genpact Does: Genpact Ltd is a provider of business process management services. Clients are industry verticals and operate in banking and financial services, insurance, capital markets, consumer product goods, life sciences, infrastructure, manufacturing and services, healthcare, and high-tech.

Also check this: These Analysts Slash Price Targets On NIO, Plus Wells Fargo Predicts $120 For PayPal

Intuit

• The Trade: Intuit Inc. INTU EVP, SBSEG Alexander James Chriss sold a total of 8,702 shares at an average price of $428.28. The insider received around $3.73 million as a result of the transaction.
• What’s Happening: Citigroup recently initiated coverage on Intuit with a Buy rating and announced a price target of $538.
• What Intuit Does: Intuit is a provider of small-business accounting software (QuickBooks), personal tax solutions (TurboTax), and professional tax offerings (Lacerte).

Have a look at our premarket coverage here .

Palo Alto Networks

• The Trade: Palo Alto Networks, Inc. PANW EVP, Chief Product Officer Lee Klarich sold a total of 3,866 shares at an average price of $530.54. The insider received around $2.05 million from selling those shares.
• What’s Happening: Atlantic Equities recently initiated coverage on Palo Alto Networks with a Neutral rating and announced a price target of $495.
• What Palo Alto Networks Does: Palo Alto Networks is a pure-play cybersecurity vendor that sells security appliances, subscriptions, and support into enterprises, government entities, and service providers.