The Nasdaq 100 dropped 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.
United Parcel Service
- The Trade: United Parcel Service, Inc. UPS Chief Human Resources Officer Darrell Ford sold a total of 5,034 shares at an average price of $185.53. The insider received around $934.01 thousand from selling those shares.
- What’s Happening: UPS recently reported better-than-expected Q4 EPS, raised its dividend and announced a $5 billion repurchase program.
- What UPS Does: As the world's largest parcel delivery company, UPS manages a massive fleet of more than 500 planes and 100,000 vehicles, along with many hundreds of sorting facilities, to deliver an average of about 25 million packages per day to residences and businesses across the globe.
Have a look at our premarket coverage here
Shutterstock
- The Trade: Shutterstock Inc SSTK CFO Jarrod Yahes sold a total of 15,624 shares at an average price of $78.34. The insider received around $1.22 million from selling those shares.
- What’s Happening: Shutterstock reported better-than-expected Q4 adjusted EPS and sales results.
- What Shutterstock Does: Shutterstock Inc is a U.S.-based company that is engaged in the provision of digital content.
Boyd Gaming
- The Trade: Boyd Gaming Corporation BYD Executive Vice President Ted Bogich sold a total of 30,433 shares at an average price of $67.32. The insider received around $2.05 million from selling those shares.
- What’s Happening: Boyd Gaming reported better-than-expected Q4 EPS and sales results.
- What Boyd Gaming Does: Boyd Gaming Corp is a multi-jurisdictional gaming company.
Check This Out: Dow Tumbles Over 400 Points; Investor Optimism Declines
Delta Air Lines
- The Trade: Delta Air Lines, Inc. DAL EVP & Chief Info Officer Rahul D Samant sold a total of 13,124 shares at an average price of $38.77. The insider received around $508.84 thousand from selling those shares.
- What’s Happening: Delta recently issued Q1 EPS guidance below estimates.
- What Delta Air Lines Does: Delta Air Lines Inc is airlines, with a network of over 300 destinations in more than 50 countries.
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