Bristol-Myers Squibb And 2 Other Stocks Insiders Are Selling

Gold futures traded lower this morning on Friday. 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.

Newell Brands

• The Trade: Newell Brands Inc. NWL Director Brett Icahn sold a total of 381,304 shares at an average price of $17.38. The insider received around $6.63 million from selling those shares.
• What’s Happening: Jefferies recently maintained Newell Brands with a Buy and lowered the price target from $34 to $28..
• What Newell Brands Does: Newell Brands Inc is an American global consumer goods company.

Also check this: Netflix To Surge More Than 30%, Plus This Analyst Predicts $24 For Nordstrom

Bristol-Myers Squibb

• The Trade: Bristol-Myers Squibb Company BMY EVP, Chief Human Resources Ann Powell sold a total of 25,000 shares at an average price of $70.75. The insider received around $1.77 million as a result of the transaction.
• What’s Happening: Bristol-Myers Squibb recently received FDA approval for Sotyktu for moderate-to-severe plaque psoriasis.
• What Bristol-Myers Squibb Does: Bristol-Myers Squibb discovers, develops, and markets drugs for various therapeutic areas, such as cardiovascular, cancer, and immune disorders.

Have a look at our premarket coverage here .

Enphase Energy

• The Trade: Enphase Energy, Inc. ENPH President and CEO Badri Kothandaraman sold a total of 36,083 shares at an average price of $296.52. The insider received around $10.7 million from selling those shares.
• What’s Happening: Guggeheim recently downgraded the stock from Buy to Neutral..
• What Enphase Energy Does: Enphase Energy is a global energy technology company. The company delivers smart, easy-to-use solutions that manage solar generation, storage, and communication on one platform.