Tesla, Nvidia And 2 Other Stocks Insiders Are Selling

The S&P 500 closed lower on Friday, but recorded weekly gains. 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.

Tesla

• The Trade: Tesla, Inc. TSLA EVP, Automotive Xiaotong Zhu sold a total of 2,500 shares at an average price of $260.00. The insider received around $650 thousand from selling those shares.
• What’s Happening: In a big quarter-end push, Tesla offered discounts on new inventory Model S, X vehicles..
• What Tesla Does: Founded in 2003 and based in Palo Alto, California, Tesla is a vertically integrated sustainable energy company that also aims to transition the world to electric mobility by making electric vehicles.

Have a look at our premarket coverage here

United Airlines

• The Trade: United Airlines Holdings, Inc. UAL EVP & Chief Growth Officer Gregory L Hart sold a total of 12,000 shares at an average price of $52.26. The insider received around $627.12 thousand from selling those shares.
• What’s Happening: United Airlines Holdings is reportedly offering its pilots a contract with an incremental value above $8 billion over four years.
• What United Airlines Does: United Airlines is a major U.S. network carrier with hubs in San Francisco, Chicago, Houston, Denver, Los Angeles, New York/Newark, and Washington, D.C.

Salesforce

• The Trade: Salesforce, Inc. CRM Chair and CEO Marc Benioff sold a total of 500,000 shares at an average price of $209.14. The insider received around $104.57 million from selling those shares.
• What’s Happening: Oppenheimer reiterated an Outperform rating on the shares of Salesforce with a price target of $235..
• What Salesforce Does: Salesforce Inc provides enterprise cloud computing solutions. The company offers customer relationship management technology that brings companies and customers together.

NVIDIA

• The Trade: NVIDIA Corporation NVDA Director Tench Coxe sold a total of 50,000 shares at an average price of $422.15. The insider received around $21.11 million from selling those shares.
• What’s Happening: Morgan Stanley raised its price target on the stock from $450 to $500.
• 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.

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