Goldman Sachs, U.S. Bancorp And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed higher by more than 300 points on Friday. 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.

Goldman Sachs

• The Trade: The Goldman Sachs Group, Inc. GS Chief Risk Officer Brian Lee sold a total of 9,500 shares at an average price of $375.93. The insider received around $3.57 million from selling those shares.
• What’s Happening: Goldman Sachs is reportedly seeking new talent for its asset and wealth management divisions as part of its ongoing efforts to grow these sectors.
• What Goldman Sachs Does: Goldman Sachs is a leading global investment banking and asset management firm.

Have a look at our premarket coverage here

QUALCOMM

• The Trade: QUALCOMM Incorporated QCOM President and CEO Cristiano R Amon sold a total of 8,100 shares at an average price of $149.50. The insider received around $1.21 million from selling those shares.
• What’s Happening: Canaccord Genuity analyst Michael Walkley maintained Qualcomm with a Buy and raised the price target from $152 to $175.
• What QUALCOMM Does: Qualcomm develops and licenses wireless technology and designs chips for smartphones.

U.S. Bancorp

• The Trade: U.S. Bancorp USB Vice Chair Timothy A Welsh sold a total of 12,100 shares at an average price of $40.33. The insider received around $487,969 from selling those shares.
• What’s Happening: U.S. Bancorp reported fourth-quarter total net revenue of $6.7 billion, missing the analyst consensus of $6.8 billion.
• What U.S. Bancorp Does: As a diversified financial-services provider, U.S. Bancorp is one of the nation's largest regional banks, with branches in roughly 26 states, primarily in the Western and Midwestern United States.

Coinbase Global

• The Trade: Coinbase Global, Inc. COIN Director Frederick Ernest Ehrsam III sold a total of 97,836 shares at an average price of $131.90. The insider received around $12.9 million from selling those shares.
• What’s Happening: Citigroup analyst Peter Christiansen maintained Coinbase with a Neutral and raised the price target from $90 to $151.
• What Coinbase Global Does: Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States.

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