Teva Pharmaceutical, Marathon Oil And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed lower by over 1% on Wednesday. Investors, meanwhile, focused on some notable insider trades.

When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company’s prospects or that they view the stock as being overpriced. 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.

Schlumberger

• The Trade: Schlumberger Limited SLB VP and Treasurer Kevin Fyfe sold a total of 7,716 shares at an average price of $59.35. The insider received around $457,906 from selling those shares.
• What’s Happening: Schlumberger reported mixed results for its second quarter.
• What Schlumberger Does: SLB, formerly known as Schlumberger, is the largest oilfield service firm in the world, with expertise in myriad disciplines, including reservoir performance, well construction, production enhancement, and more recently, digital solutions.

Have a look at our premarket coverage here

Kraft Heinz Company

• The Trade: The Kraft Heinz Company KHC EVP, Global GC & CSCAO Rashida Lande la sold a total of 16,453 shares at an average price of $35.07. The insider received around $577,007 from selling those shares.
• What’s Happening: Kraft Heinz reported better-than-expected earnings for its second quarter, while sales missed estimates.
• What Kraft Heinz Company Does: In July 2015, Kraft merged with Heinz to create the third-largest food and beverage manufacturer in North America behind PepsiCo and Nestle and the fifth-largest player in the world. Beyond its namesake brands, the combined firm's portfolio includes Oscar Mayer, Velveeta, and Philadelphia.

Teva Pharmaceutical Industries

• The Trade: Teva Pharmaceutical Industries Limited TEVA EVP, Chief Financial Officer Eliyahusharon Kalif sold a total of 35,125 shares at an average price of $9.73. The insider received around $341,889 from selling those shares.
• What’s Happening: Teva Pharmaceutical’s second-quarter sales reached $3.88 billion, up 2% Y/Y (4% on constant currency), slightly beating the consensus of $3.70 billion.
• What Teva Pharmaceutical Industries Does: Teva Pharmaceutical, based in Israel, is the leading generic drug manufacturer in the world.

Marathon Oil

• The Trade: Marathon Oil Corporation MRO VP, Controller & CAO Rob L White sold a total of 8,000 shares at an average price of $26.24. The insider received around $209,920 from selling those shares.
• What’s Happening: Marathon Oil posted in-line earnings for the second quarter.
• What Marathon Oil Does: Marathon is an independent exploration and production company primarily focusing on unconventional resources in the United States.

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