HP, Alphabet And 2 Other Stocks Insiders Are Selling

The S&P 500 closed higher on Friday, also recording gains last week. 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.

Alphabet

• The Trade: Alphabet Inc. GOOG Director Ann Mather sold a total of 9,540 shares at an average price of $125.33. The insider received around $1.2 million from selling those shares.
• What’s Happening: Google Bard, the conversational AI platform by Alphabet Inc., plans to catch up with rivals like Microsoft’s Bing AI by potentially introducing features such as chat history and customizable responses.
• What Alphabet Does: Alphabet is a holding company. Internet media giant Google is a wholly owned subsidiary. Google generates 99% of Alphabet revenue, of which more than 85% is from online ads.

Have a look at our premarket coverage here

Snap

• The Trade: Snap Inc. SNAP General Counsel Michael Osullivan sold a total of 13,000 shares at an average price of $9.99. The insider received around $129.87 thousand from selling those shares.
• What’s Happening: Arete Research recently upgraded the stock from Neutral to Buy and announced a $12 price target.
• What Snap Does: Snap, which refers to itself as a camera company, has one of the most popular social networking apps, Snapchat, in developed regions such as North America and Europe.

HP

• The Trade: HP Inc. HPQ CFO Marie Myers sold a total of 4,165 shares at an average price of $29.31. The insider received around $122.08 thousand from selling those shares.
• What’s Happening: HP reported mixed second-quarter financial results and issued guidance.
• What HP Does: HP (formerly Hewlett-Packard) is a behemoth in the PC and printing markets.

Delta Air Lines

• The Trade: Delta Air Lines, Inc. DAL EVP & Chief People Officer Joanne D Smith sold a total of 7,513 shares at an average price of $36.90. The insider received around $277.23 thousand from selling those shares.
• What’s Happening: Delta named Mike Spanos as Chief Operating Officer and the newest member of the Delta Leadership Committee, effective June 12.
• What Delta Air Lines Does: Atlanta-based Delta Air Lines is one of the world's largest airlines, with a network of over 300 destinations in more than 50 countries.

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