JPMorgan, DoorDash And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed higher by more than 100 points 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.

Riot Platforms

• The Trade: Riot Platforms, Inc. RIOT EVP, General Counsel William Jackman sold a total of 57,000 shares at an average price of $15.68. The insider received around $893,669 from selling those shares.
• What’s Happening: Riot Platforms recently said it produced 552 Bitcoin in November, up 21% from October and up 6% on a year-over-year basis.
• What Riot Platforms Does: Riot Platforms Inc is a vertically integrated Bitcoin mining company focused on building, supporting, and operating blockchain technologies.

Have a look at our premarket coverage here

JPMorgan Chase

• The Trade: JPMorgan Chase & Co. JPM Co-CEO CCB Marianne Lake sold a total of 32,243 shares at an average price of $160.00. The insider received around $5.16 million from selling those shares.
• What’s Happening: JPMorgan Chase reportedly acquired a 10.6% share in the Spanish defense systems manufacturer Indra.
• 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.

DoorDash

• The Trade: DoorDash, Inc. DASH General Counsel and Secretary Tia Sherringham sold a total of 42,423 shares at an average price of $100.02. The insider received around $4.24 million from selling those shares.
• What’s Happening: DoorDash will be added to the Nasdaq-100 Index, effective prior to market open on Dec. 18, 2023.
• What DoorDash Does: Founded in 2013 and headquartered in San Francisco, DoorDash is an online food order demand aggregator.

Hovnanian Enterprises

• The Trade: Hovnanian Enterprises, Inc. HOV Director, Chairman of Bd., President & CEO Ara Hovnanian sold a total of 32,117 shares at an average price of $140.71. The insider received around $4.52 million from selling those shares.
• What’s Happening: Hovnanian Enterprises recently reported a year-over-year increase in fourth-quarter financial results.
• What Hovnanian Enterprises Does: Hovnanian Enterprises Inc is an American construction company that focuses on residential construction.

Check This Out: Top 5 Consumer Stocks That Could Lead To Your Biggest Gains This Month