NVIDIA, Foot Locker And This Social Media Stock Insiders Are Selling

The Nasdaq jumped by more than 200 points on Thursday. 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.

NVIDIA

• The Trade: NVIDIA Corporation NVDA Director Mark A Stevens sold a total of 85,000 shares at an average price of $116.49. The insider received around $9.9 million from selling those shares.
• What’s Happening: NVIDIA recently said it will cease operations and close its offices in Russia by the end of October, saying it could no longer operate effectively in the country because of recent events related to the invasion of Ukraine.
• What NVIDIA Does: Nvidia is the top designer of discrete graphics processing units that enhance the experience on computing platforms.

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Foot Locker

• The Trade: Foot Locker, Inc. FL 10% owner Daniel Kretinsky sold a total of 167,019 shares at an average price of $32.37. The insider received around $5.41 million as a result of the transaction.
• What’s Happening: Telsey Advisory Group maintained Foot Locker with a Market Perform and lowered the price target from $42 to $37.
• What Foot Locker Does: Foot Locker Inc operates thousands of retail stores throughout the United States, Canada, Europe, Australia, and New Zealand.

Have a look at our premarket coverage here .

Pinterest

• The Trade: Pinterest, Inc. PINS Director Jeffrey Jordan sold a total of 5,000 shares at an average price of $24.31. The insider received around $121.55 thousand from selling those shares.
• What’s Happening: Goldman Sachs recently upgraded the stock from Neutral to Buy and raised its price target from $24 to $31.
• What Pinterest Does: Pinterest is an online product and idea discovery platform that helps users gather ideas on everything from recipes to cook to destinations to travel to.