Meta Platforms, JPMorgan And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed lower on Friday. 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.

Meta Platforms

• The Trade: Meta Platforms, Inc. META Chief Operating Officer Javier Olivan sold a total of 4,274 shares at an average price of $239.34. The insider received around $1.02 million from selling those shares.
• What’s Happening: Meta Platforms disclosed the first custom silicon chip for running AI models, a new AI-optimized data center design, and the second phase of its 16,000 GPU supercomputer for AI research.
• What Meta Platforms Does: Meta is the world's largest online social network, with 3.8 billion family of apps monthly active users.
• Have a look at our premarket coverage here

Stryker

• The Trade: Stryker Corporation SYK Director Srikant M Datar sold a total of 1,000 shares at an average price of $286.00. The insider received around $286 thousand from selling those shares.
• What’s Happening: Stryker reported better-than-expected earnings for its first quarter and increased its full-year profit outlook.
• What Stryker Does: Stryker designs, manufactures, and markets an array of medical equipment, instruments, consumable supplies, and implantable devices.

TJX Companies

• The Trade: The TJX Companies, Inc. TJX SEVP, Finance Scott Goldenberg sold a total of 26,271 shares at an average price of $78.91. The insider received around $2.07 million from selling those shares.
• What’s Happening: TJX companies reported better-than-expected first-quarter EPS and a decline in inventories.
• What TJX Does: TJX is a leading off-price retailer of apparel, home fashions, and other merchandise.

JPMorgan Chase

• The Trade: JPMorgan Chase & Co. JPM Vice Chairman Peter Scher sold a total of 1,241 shares at an average price of $140.08. The insider received around $173.84 thousand from selling those shares.
• What’s Happening: JPMorgan Chase CEO Jamie Dimon reportedly said the lender is unlikely to buy any additional regional banks that are struggling in the wake of the sector's turmoil.
• What JPMorgan Chase Does: JPMorgan Chase is one of the largest and most complex financial institutions in the United States, with nearly $4 trillion in assets.

Check This Out: Top 5 Energy Stocks That May Implode In Q2