Palo Alto Networks, Nvidia, And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed slightly lower on Tuesday. 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.

NVIDIA

• The Trade: NVIDIA Corporation NVDA Director Mark A Stevens sold a total of 36,000 shares at an average price of $546.95. The insider received around $19.69 million from selling those shares.
• What’s Happening: Keybanc analyst John Vinh maintained NVIDIA with an Overweight and raised the price target from $650 to $740.
• What NVIDIA Does: Nvidia is a leading developer of graphics processing units.

Have a look at our premarket coverage here

Palo Alto Networks

• The Trade: Palo Alto Networks, Inc. PANW Director John Donovan sold a total of 15,100 shares at an average price of $330.03. The insider received around $4.98 million from selling those shares.
• What’s Happening: Truist Securities analyst Anthony Hau maintained Palo Alto Networks with a Buy and raised the price target from $275 to $330.
• What Palo Alto Networks Does: Palo Alto Networks is a platform-based cybersecurity vendor with product offerings covering network security, cloud security, and security operations.

Boston Scientific

• The Trade: Boston Scientific Corporation BSX EVP & Group Pres, Cardiology Michael Joseph Fitzgerald sold a total of 11,660 shares at an average price of $60.00. The insider received around $699,600 from selling those shares.
• What’s Happening: Boston Scientific agreed to acquire Axonics for $71 in cash per share, representing an enterprise value of approximately $3.4 billion and an equity value of approximately $3.7 billion.
• What Boston Scientific Does: Boston Scientific produces less invasive medical devices that are inserted into the human body through small openings or cuts.

Jabil

• The Trade: Jabil Inc. JBL SVP, Global Sales Roberto Ferri sold a total of 6,183 shares at an average price of $129.97. The insider received around $803,605 from selling those shares.
• What’s Happening: Jabil recently revised its second-quarter guidance post-completion of the divestiture of its Mobility business.
• What Jabil Does: Jabil Inc is a United States-based company engaged in providing manufacturing services and solutions.

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