GameStop, CME Group And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed higher by around 0.4% 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.

Marathon Digital

• The Trade: Marathon Digital Holdings, Inc. MARA Director Said Ouissal sold a total of 10,217 shares at an average price of $20.50. The insider received around $209,449 from selling those shares.
• What's Happening: On June 4, JP Morgan analyst Reginald Smith maintained Marathon Digital with an Underweight and lowered the price target from $16.5 to $14.
• What Marathon Digital Does: Marathon Digital Holdings Inc focuses on mining digital assets. It owns crypto-currency mining machines and a data center to mine digital assets.

Have a look at our premarket coverage here

Uber Technologies

• The Trade: Uber Technologies, Inc. UBER Tony West sold a total of 28,000 shares at an average price of $70.67. The insider received around $1.98 million from selling those shares.
• What's Happening: On May 23, Uber announced a new partnership with Lightspeed Commerce. The company has announced a new North American partnership to integrate Uber Direct and Uber Eats marketplace into Lightspeed’s platform.
• What Uber Does: Uber Technologies is a technology provider that matches riders with drivers, hungry people with restaurants and food delivery service providers, and shippers with carriers.

GameStop

• The Trade: GameStop Corp. GME General Counsel and Secretary Mark Haymond Robinson sold a total of 2,215 shares at an average price of $26.33. The insider received around $58,326 from selling those shares.
• What's Happening: GameStop announced that its virtual annual meeting of stockholders, scheduled for June 13, 2024 at 10:00 a.m. CDT, was convened and adjourned, without any business being conducted, due to technical difficulties with the third-party hosting site. The meeting will be reconvened at 11:30 a.m. CDT on June 17, 2024.
• What GameStop Does: GameStop Corp is a U.S. multichannel video game, consumer electronics, and services retailer.

CME Group

• The Trade: CME Group Inc. CME Director Charles P Carey sold a total of 3,000 shares at an average price of $195.44. The insider received around $586,320 from selling those shares.
• What's Happening: On June 4, CME Group reported record May ADV of 26 million contracts.
• What CME Group Does: Based in Chicago, CME Group operates exchanges giving investors, suppliers, and businesses the ability to trade futures and derivatives based on interest rates, equity indexes, foreign currencies, energy, metals, and commodities.

Check This Out: Wall Street’s Most Accurate Analysts Weigh In On 3 Tech Stocks With Over 3% Dividend Yields