Nvidia, Coinbase And 2 Other Stocks Insiders Are Selling

The S&P 500 closed slightly higher on Tuesday. 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.

Coinbase Global

• The Trade: Coinbase Global, Inc. COIN Chief Accounting Officer Jennifer N Jones sold a total of 1,704 shares at an average price of $65.00. The insider received around $110.76 thousand from selling those shares.
• What’s Happening: The SEC sued the company in NY federal court.
• What Coinbase Global Does: Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States.
• Have a look at our premarket coverage here

Southern Company

• The Trade: The Southern Company SO Chairman, President & CEO, GPC Kimberly S Greene sold a total of 47,326 shares at an average price of $69.78. The insider received around $3.3 million from selling those shares.
• What’s Happening: Morgan Stanley recently maintained Southern with an Underweight and lowered the price target from $63 to $61.
• What Southern Company Does: Southern is one of the largest utilities in the U.S. The company serves 9 million customers with vertically integrated electric utilities in three states and natural gas distribution utilities in four states.

NVIDIA

• The Trade: NVIDIA Corporation NVDA Director Harvey C Jones sold a total of 70,205 shares at an average price of $405.00. The insider received around $28.43 million from selling those shares.
• What’s Happening: Nvidia recently joined the $1-trillion-market-capitalization club.
• What NVIDIA Does: Nvidia is the top designer of discrete graphics processing units that enhance the experience on computing platforms. The firm's chips are used in a variety of end markets, including PC gaming and data centers.

Cognizant Technology Solutions

• The Trade: Cognizant Technology Solutions Corporation CTSH EVP & Pres, Global Growth Mkts Robert C Walker sold a total of 7,000 shares at an average price of $63.72. The insider received around $446.06 thousand from selling those shares.
• What’s Happening: Cognizant reported better-than-expected first-quarter EPS and sales results.
• What Cognizant Technology Solutions Does: Cognizant is a global IT services provider, offering consulting and outsourcing services to some of the world's largest enterprises spanning the financial services, media and communications, healthcare, natural resources, and consumer products industries.

Check This Out: https://www.benzinga.com/news/earnings/23/06/32752545/campbell-soup-united-natural-foods-and-3-stocks-to-watch-heading-into-wednesday