The Nasdaq 100 closed up more than 100 points on Tuesday. Meanwhile, investors noticed some notable insider transactions.
When insiders sell stock, it could be a pre-planned sale, or it could be a sign of concern about the company's prospects or a view that the stock is overvalued. Insider sales should not be taken as the sole metric for making investment or trading decisions. At best, it can give you confidence in your sales decision.
Below are some recent notable insider sales. Visit Benzinga's Insider Trading Platform to learn more.
micron technology
- Business partner: Micron Technology, Inc.
Mu Manish H. Bhatia, VP of Global Operations, sold a total of 40,650 shares at an average price of $120.89. Insiders received approximately $4.91 million from the sale of these shares. - what's happening: On May 13, Barclays analyst Tom O'Malley maintained an overweight rating on Micron and raised his price target from $120 to $145.
- What Micron Technology does: Micron is one of the world's largest semiconductor companies, specializing in memory and storage chips.
Check out our pre-market coverage here
vulcan material
- Client: Vulcan Materials Company
VMC President Thompson S. Baker II sold a total of 15,210 shares at an average price of $272.95. Insiders received approximately $4.15 million from the sale of these shares. - what's happening: On May 2, Vulcan Materials reported upbeat first quarter results.
- Vulcan material features: Vulcan Materials is the largest manufacturer of construction aggregates (crushed rock, sand, and gravel) in the United States.
schlumberger
- Business partner: Schlumberger Co., Ltd.
S.L.B. Chief Technology Officer Demostenis Paphitis sold a total of 63,095 shares at an average price of $48.26. Insiders received approximately $3.04 million from the sale of these shares. - what's happening: On April 19, SLB announced strong quarterly sales.
- What SLB does: SLB is the world's largest oilfield services company, with expertise in a myriad of areas including reservoir performance, well construction, production enhancement, and most recently, digital solutions.
JP Morgan Chase
- Client: JPMorgan Chase & Co.
J.P.M. CCB CEO Marianne Lake sold a total of 11,734 shares at an average price of $200.02. Insiders received approximately $2.35 million from the sale of these shares. - what's happening: JPMorgan Chase opened a new community center branch in the Grand Concourse area of the Bronx during April.
- JPMorgan Chase's activities: JPMorgan Chase is one of the largest and most complex financial institutions in the United States, with total assets of approximately $3.9 trillion.
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