JPMorgan Chase, Yum China And 2 Other Stocks Insiders Are Selling

The Nasdaq closed higher 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.

JPMorgan Chase

• The Trade: JPMorgan Chase & Co. JPM President & COO, CEO CIB President Daniel Pinto sold a total of 113,640 shares at an average price of $135.93. The insider received around $15.45 million from selling those shares. The company’s Co-CEO CCB also sold the company’s shares.
• What’s Happening: JPMorgan Chase CEO Jamie Dimon is calling for a ban on shorting banks.
• What JPMorgan Chase Does: JPMorgan Chase is one of the largest and most complex financial institutions in the United States, with nearly $4 trillion in assets.
• Have a look at our premarket coverage here

Roku

• The Trade: Roku, Inc. ROKU President, Consumer Experience Gidon Katz sold a total of 3,694 shares at an average price of $57.50. The insider received around $212.41 thousand from selling those shares.
• What’s Happening: Roku reported better-than-expected revenue for its first quarter and issued strong Q2 sales guidance.
• What Roku Does: Roku is the leading streaming platform in the U.S. by hours watched with 87.4 billion hours of content streamed in 2022.

Yum China Holdings

• The Trade: Yum China Holdings, Inc. YUMC Director Peter Bassi sold a total of 17,500 shares at an average price of $60.96. The insider received around $1.07 million from selling those shares.
• What’s Happening: Yum China reported better-than-expected Q1 results.
• What Yum China Does: With almost 13,000 units and USD 10 billion in systemwide sales in 2022, Yum China is the largest restaurant chain in China.

NetApp

• The Trade: NetApp, Inc. NTAP CEO George Kurian sold a total of 2,250 shares at an average price of $63.49. The insider received around $142.85 thousand from selling those shares.
• What’s Happening: B of A Securities downgraded the stock from Neutral to Underperform and lowered its price target from $70 to $58,
• What NetApp Does: NetApp is a leading provider of enterprise data management and storage solutions.

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