Citigroup, Dell And 2 Other Stocks Insiders Are Selling

The S&P 500 closed almost flat 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.

Riot Platforms

• The Trade: Riot Platforms, Inc. RIOT Director Lance Varro D'Ambrosio sold a total of 30,000 shares at an average price of $12.51. The insider received around $325.26 thousand from selling those shares.
• What’s Happening: Compass Point recently maintained Riot Platforms with a Buy and raised the price target from $8.75 to $17.
• What Riot Platforms Does: Riot Platforms Inc is focused on building, supporting, and operating blockchain technologies.

Have a look at our premarket coverage here

AbbVie

• The Trade: AbbVie Inc. ABBV SVP, US Commercial Operations Elaine K Sorg sold a total of 7,499 shares at an average price of $161.67. The insider received around $1.21 million from selling those shares.
• What’s Happening: The U.S. FDA approved AbbVie's QULIPTA for adults with chronic migraine.
• What AbbVie Does: AbbVie is a pharmaceutical company with a strong exposure to immunology and oncology.

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Dell Technologies

• The Trade: Dell Technologies Inc. DELL Chief Accounting Officer Brunilda Rios sold a total of 22,042 shares at an average price of $43.78. The insider received around $965 thousand from selling those shares.
• What’s Happening: Evercore reportedly said it believed the company could be added to the S&P.
• What Dell Does: Dell Technologies is a broad information technology vendor, primarily supplying hardware to enterprises. It is focused on premium personal computers and enterprise on-premises data center hardware.

Citigroup

• The Trade: Citigroup Inc. C Chief Risk Officer Zdenek Turek sold a total of 12,000 shares at an average price of $49.87. The insider received around $598.44 thousand from selling those shares.
• What’s Happening: Citigroup reported strong Q1 results, including an increase in net interest income.
• What Citigroup Does: Citigroup is a global financial services company doing business in more than 100 countries and jurisdictions.