Dropbox, T-Mobile US And 2 Other Stocks Insiders Are Selling

The Nasdaq Composite closed lower by over 100 points on Wednesday. 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.

T-Mobile US

• The Trade: T-Mobile US, Inc. TMUS President, Technology Neville Ray sold a total of 46,902 shares at an average price of $150.08. The insider received around $7.04 million from selling those shares.
• What’s Happening: T-Mobile scored six more years of partnership with MLB, Little League Baseball and Softball, plus a new deal with MiLB.
• What T-Mobile US Does: Deutsche Telekom merged its T-Mobile USA unit with prepaid specialist MetroPCS in 2013, creating T-Mobile US.

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Box

• The Trade: Box, Inc. BOX CFO Dylan Smith sold a total of 13,000 shares at an average price of $26.49. The insider received around $344.42 thousand from selling those shares. Stephen E Kuczynski, CEO, Southern Nuclear also sold the company’s shares.
• What’s Happening: Box recently issued weak Q1 and FY24 guidance.
• What Box Does: Box is a cloud-based content services platform that provides cloud-based storage and workflow collaboration services for enterprise customers.

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Dropbox

• The Trade: Dropbox, Inc. DBX Chief Legal Officer Bart Volkmer sold a total of 10,000 shares at an average price of $21.01. The insider received around $210.13 thousand from selling those shares.
• What’s Happening: Dropbox, during February, posted upbeat quarterly results.
• What Dropbox Does: Dropbox is a leading provider of cloud-storage and content collaboration tools with an emphasis on individuals and SMB.

NetApp

• The Trade: NetApp, Inc. NTAP CEO George Kurian sold a total of 2,250 shares at an average price of $64.50. The insider received around $145.13 thousand from selling those shares.
• What’s Happening: Stifel upgraded the stock from Hold to Buy.
• What NetApp Does: NetApp is a leading provider of enterprise data management and storage solutions. The company's three operating business units are products, software maintenance, and hardware maintenance.