Alphabet, VeriSign And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed sharply 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.

VeriSign

• The Trade: VeriSign, Inc. VRSN Exec. Chairman and CEO D. James Bidzos sold a total of 9,000 shares at an average price of $224.57. The insider received around $2.02 million from selling those shares.
• What’s Happening: VeriSign posted upbeat earnings for its first quarter.
• What VeriSign Does: Verisign is the sole authorized registry for several generic top-level domains, including the widely utilized .com and .net top-level domains.
• Have a look at our premarket coverage here

• Qorvo

• The Trade: Qorvo, Inc. QRVO CEO & President Robert Bruggeworth sold a total of 17,063 shares at an average price of $90.73. The insider received around $1.55 million from selling those shares.
• What’s Happening: Qorvo reported better-than-expected fourth-quarter financial results.
• What Qorvo Does: Qorvo represents the combined entity of RF Micro Devices and TriQuint Semiconductor, which merged in January 2015.

Stifel Financial

• The Trade: Stifel Financial Corp. SF Senior Vice President Thomas Michaud sold a total of 59,036 shares at an average price of $58.55. The insider received around $3.46 million from selling those shares.
• What’s Happening: Stifel inked a seven-year agreement with St. Louis Cardinals to serve as official jersey patch sponsor.
• What Stifel Financial Does: Stifel Financial is a middle-market-focused investment bank that produces more than 90% of its revenue in the United States.

Alphabet

• The Trade: Alphabet Inc. GOOG Director K. Ram Shriram sold a total of 150,000 shares at an average price of $120.01. The insider received around $18 million from selling those shares.
• What’s Happening: Third Point and Pershing Square recently disclosed a stake in the company.
• What Alphabet Does: Alphabet is a holding company. Internet media giant Google is a wholly owned subsidiary.

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