NVIDIA, Johnson & Johnson And 2 Other Stocks Insiders Are Selling

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

Robinhood Markets

• The Trade: Robinhood Markets, Inc. HOOD Chief Creative Officer Baiju Bhatt sold a total of 92,987 shares at an average price of $9.33. The insider received around $867.83 thousand from selling those shares.
• What’s Happening: Robinhood Markets said assets under custody at the end of May were $81.8 billion, up 6% from April.
• What Robinhood Does: Robinhood Markets Inc is creating a modern financial services platform.

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Snap

• The Trade: Snap Inc. SNAP Chief Technology Officer Robert Murphy sold a total of 1,297,027 shares at an average price of $10.08. The insider received around $10.08 million from selling those shares.
• What’s Happening: Wells Fargo initiated coverage on Snap with an Equal-Weight rating and announced a price target of $10.
• 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.

NVIDIA

• The Trade: NVIDIA Corporation NVDA Director Harvey C Jones sold a total of 119,795 shares at an average price of $403.17. The insider received around $48.3 million from selling those shares.
• What’s Happening: NVIDIA shares moved higher on Wednesday as the stock continued to surge amid AI optimism.
• 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.

Johnson & Johnson

• The Trade: Johnson & Johnson JNJ EVP, Chief TO and Risk Officer Kathryn E Wengel sold a total of 12,465 shares at an average price of $160.00. The insider received around $1.99 million from selling those shares.
• What’s Happening: Mizuho recently maintained Johnson & Johnson with a Buy and raised the price target from $36 to $40.
• What Johnson & Johnson Does: Johnson & Johnson is the world's largest and most diverse healthcare firm. Three divisions make up the firm: pharmaceutical, medical devices and diagnostics, and consumer.

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