JPMorgan, Broadcom And 2 Other Stocks Insiders Are Selling

The S&P 500 closed higher on Monday. 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.

Box

• The Trade: Box, Inc. BOX CFO Dylan Smith sold a total of 13,000 shares at an average price of $28.96. The insider received around $376.45 thousand from selling those shares.
• What’s Happening: Box posted better-than-expected quarterly results.
• What Box Does: Box is a cloud-based content services platform that provides cloud-based storage and workflow collaboration services for enterprise customers.
• Have a look at our premarket coverage here

JPMorgan Chase

• The Trade: JPMorgan Chase & Co. JPM Co-CEO CCB Jennifer Piepszak sold a total of 1,871 shares at an average price of $140.70. The insider received around $263.24 thousand from selling those shares.
• What’s Happening: JPMorgan signaled its intent to reconcile a lawsuit levied against the mega bank, accusing it of profiting from the sex trafficking operations of its former client, Jeffrey Epstein.
• What JPMorgan Does: JPMorgan Chase is one of the largest and most complex financial institutions in the United States, with nearly $4 trillion in assets.

Broadcom

• The Trade: Broadcom Inc. AVGO CFO & Chief Accounting Officer Kirsten M Spears sold a total of 6,000 shares at an average price of $797.82. The insider received around $4.79 million from selling those shares. The company’s President, Semi Solutions Grp also sold the company’s shares.
• What’s Happening: Broadcom is set to receive approval from EU antitrust regulators to acquire VMware for $61 billion, according to reports.
• What Broadcom Does: Broadcom boasts a highly diverse product portfolio across an array of end markets and is the product of the 2016 merger of Avago and Broadcom.

Coca-Cola Company

• The Trade: The Coca-Cola Company KO Manuel Arroyo sold a total of 16,000 shares at an average price of $63.50. The insider received around $1.02 million from selling those shares.
• What’s Happening: HSBC recently maintained Coca-Cola with a Buy and lowered the price target from $77 to $74.
• What Coca-Cola Company Does: Founded in 1886, Atlanta-headquartered Coca-Cola is the world's largest nonalcoholic beverage company, with a strong portfolio of 200 brands covering key categories including carbonated soft drinks, water, sports, energy, juice, and coffee.

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