The Nasdaq 100 closed higher by around 0.2% on Monday. 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.
Snap
- The Trade: Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’Sullivan sold a total of 18,000 shares at an average price of $11.53. The insider received around $207,594 from selling those shares.
- What’s Happening: On Feb. 12, Snap announced that it entered into various privately negotiated repurchase transactions.
- What Snap Does: Snap owns one of the most popular social networking apps, Snapchat, claiming more than 400 million daily active users as of the end of 2023.
Have a look at our premarket coverage here
Levi Strauss
- The Trade: Levi Strauss & Co. (NYSE:LEVI) Director David A Friedman sold a total of 45,837 shares at an average price of $20.00. The insider received around $916,919 from selling those shares.
- What’s Happening: Levi Strauss is expected to report financial results for the first quarter on April 3, 2024.
- What Levi Strauss Does: Levi Strauss & Co is involved in designing, marketing, and selling products that include jeans, casual and dresses pants, tops, shorts, skirts, jackets, footwear, and related accessories directly or through third parties and licensees for men, women, and children under Levi’s, Dockers, Signature by Levi Strauss & Co. and Denizen brands.
NVIDIA
- The Trade: NVIDIA Corporation (NASDAQ:NVDA) Director Mark A Stevens sold a total of 11,000 shares at an average price of $905.65. The insider received around $9.96 million from selling those shares.
- What’s Happening: On March 22, UBS analyst Timothy Arcuri maintained NVIDIA with a Buy and raised the price target from $800 to $1100.
- What NVIDIA Does: Nvidia is a leading developer of graphics processing units.
Coinbase Global
- The Trade: Coinbase Global, Inc. (NASDAQ:COIN) President and COO Emilie Choi sold a total of 1,500 shares at an average price of $260.00. The insider received around $390,000 from selling those shares.
- What’s Happening: In a major setback for Coinbase, a U.S. court last week ruled against the cryptocurrency exchange on most aspects of its motion to dismiss an SEC lawsuit.
- What Coinbase Global Does: Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States.
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