NVIDIA, Target And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed higher on Monday. 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.

MGM Resorts International

• The Trade: MGM Resorts International MGM Director Alexis Herman sold a total of 2,350 shares at an average price of $42.63. The insider received around $100.19 thousand from selling those shares.
• What’s Happening: MGM Resorts International reported first-quarter revenue of $3.87 billion, up 36% year-over-year.
• What MGM Resorts International Does: MGM Resorts is the largest resort operator on the Las Vegas Strip with 35,000 guest rooms and suites, representing about one fourth of all units in the market.
• Have a look at our premarket coverage here

Target

• The Trade: Target Corporation TGT Chief Accounting Officer Matthew Liegel sold a total of 1,459 shares at an average price of $160.75. The insider received around $234.53 thousand from selling those shares.
• What’s Happening: Target reported better-than-expected first-quarter financial results.
• What Target Does: With 1,948 stores (as of the end of fiscal 2022), Target is a leading American general merchandise retailer, offering a variety of products across several categories, including beauty and household essentials (27% of fiscal 2022 sales), food and beverage (21%), home furnishings and decor (18%), hardlines (16%), and apparel and accessories (16%).

NVIDIA

• The Trade: NVIDIA Corporation NVDA EVP, Operations Debora Shoquist sold a total of 23,084 shares at an average price of $305.00. The insider received around $7.04 million from selling those shares.
• What’s Happening: Wedbush maintained NVIDIA with a Neutral and raised the price target from $216 to $290.
• What NVIDIA Does: Nvidia is the top designer of discrete graphics processing units that enhance the experience on computing platforms.

Owens Corning

• The Trade: Owens Corning OC EVP, Chief HR Officer Paula Russell sold a total of 2,000 shares at an average price of $110. The insider received around $220 thousand from selling those shares.
• What’s Happening: Owens Corning first-quarter FY23 net sales inched down by 0.6% year-over-year to $2.33 billion, beating the consensus of $2.22 billion.
• What Owens Corning Does: Owens-Corning Inc is a manufacturer of glass fiber utilized in composites and building materials.

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