GM, Microsoft And 2 Other Stocks Insiders Are Selling

The Nasdaq closed higher by over 170 points on Monday, also recording losses for the week. 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.

General Motors

• The Trade: General Motors Company GM Executive Vice President Gerald Johnson sold a total of 15,743 shares at an average price of $42.65. The insider received around $671.44 thousand from selling those shares.
• What’s Happening: JP Morgan recently maintained Moderna with a Neutral and raised the price target from $132 to $138.
• What General Motors Does: GM recently reported better-than-expected Q4 results and issued strong FY23 guidance.

Have a look at our premarket coverage here

Microsoft

• The Trade: Microsoft Corporation MSFT EVP, Chief Marketing Officer Christopher C Capossela sold a total of 1,000 shares at an average price of $269.38. The insider received around $269.38 thousand from selling those shares.
• What’s Happening: Piper Sandler recently maintained Microsoft with an Overweight and raised the price target from $247 to $290 on untapped AI potential using a higher multiple.
• What Microsoft Does: Microsoft develops and licenses consumer and enterprise software. It is known for its Windows operating systems and Office productivity suite.

Johnson Controls International

• The Trade: Johnson Controls International plc JCI VP Chief Accounting & Tax Ofcr Daniel McConeghy sold a total of 3,068 shares at an average price of $64.43. The insider received around $197.67 thousand from selling those shares.
• What’s Happening: Johnson Controls recently reported worse-than-expected Q1 sales results and issued guidance.
• What Johnson Controls International Does: Johnson Controls manufactures, installs, and services HVAC systems, building management systems and controls, industrial refrigeration systems, and fire and security solutions.

Check This Out: Top 5 Health Care Stocks That May Collapse In February

Marvell Technology

• The Trade: Marvell Technology, Inc. MRVL EVP, Storage Products Group Dan Christman sold a total of 6,778 shares at an average price of $46.05. The insider received around $312.13 thousand from selling those shares.
• What’s Happening: Marvell recently announced CFO transition.
• What Marvell Technology Does: Marvell Technology is a leading fabless chipmaker focused on networking and storage applications.