AMD, Dropbox And 2 Other Stocks Insiders Are Selling

The S&P 500 closed 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.

AMD

• The Trade: Advanced Micro Devices, Inc. AMD President, AMD Victor Peng sold a total of 105,000 shares at an average price of $124.57. The insider received around $13.08 million from selling those shares.
• What’s Happening: Following a two-hour-long Data Center and AI Technology premiere, Advanced Micro Devices CEO Lisa Su appeared on CNBC to provide a deeper look at the company’s AI technologies and vision for the future of data centers.
• What AMD Does: Advanced Micro Devices designs microprocessors for the computer and consumer electronics industries.

Have a look at our premarket coverage here

Rockwell Automation

• The Trade: Rockwell Automation, Inc. ROK President and CEO Blake D Moret sold a total of 4,855 shares at an average price of $315.00. The insider received around $1.53 million from selling those shares.
• What’s Happening: Rockwell Automation declared a quarterly dividend of $1.18 per share on common stock.
• What Rockwell Automation Does: Rockwell Automation is a pure-play automation competitor that is the successor entity to Rockwell International, which spun off its former Rockwell Collins avionics segment in 2001.

Dropbox

• The Trade: Dropbox, Inc. DBX Chief Legal Officer Bart Volkmer sold a total of 10,113 shares at an average price of $23.96. The insider received around $242.32 thousand from selling those shares.
• What’s Happening: Dropbox reported better-than-expected first-quarter results.
• What Dropbox Does: Dropbox is a leading provider of cloud-storage and content collaboration tools with an emphasis on individuals and SMB.

MGM Resorts International

• The Trade: MGM Resorts International MGM CHIEF LEGAL ADMIN OFC AND SECY John McManus sold a total of 10,000 shares at an average price of $43.91. The insider received around $439.06 thousand from selling those shares.
• What’s Happening: Sports betting operator, BetMGM, owned by MGM Resorts International and Entain Plc, has launched its mobile sports betting app in Puerto Rico.
• 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.

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