US gold futures traded lower this morning on Friday. 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.
- The Trade: Monster Beverage Corporation (NASDAQ:MNST) Chairman and Co-CEO Rodney Sacks sold a total of 115,682 shares at an average price of $90.57. The insider received around $10.48 million from selling those shares.
- What’s Happening: Morgan Stanley recently maintained Monster Beverage with an Overweight and raised the price target from $111 to $117.
- What Monster Beverage Does: Monster Beverage is a leader in the energy drink subsegment of the beverage industry.
Advanced Drainage Systems
- The Trade: Advanced Drainage Systems, Inc. (NYSE:WMS) Director Anil Seetharam sold a total of 312,692 shares at an average price of $111.13. The insider received around $34.75 million as a result of the transaction.
- What’s Happening: The company, last month, announced mixed quarterly results.
- What Advanced Drainage Systems Does: Advanced Drainage Systems Inc is engaged in designing, manufacturing, and marketing thermoplastic corrugated pipe and related water management products in North and South America, and Europe.
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- The Trade: MP Materials Corp. (NYSE:MP) Director QVT Financial LP sold a total of 528,227 shares at an average price of $41.66. The insider received around $22.01 million from selling those shares.
- What’s Happening: Morgan Stanley recently maintained MP Materials with an Overweight and raised the price target from $42 to $46.
- What MP Materials Does: MP Materials Corp is the largest producer of rare earth materials in the Western Hemisphere.
- The Trade: Motorola Solutions, Inc. (NYSE:MSI) Chairman and CEO Gregory Q Brown sold a total of 25,000 shares at an average price of $219.75. The insider received around $5.49 million from selling those shares.
- What’s Happening: The company, last month, posted better-than-expected quarterly results.
- What Motorola Solutions Does: Motorola Solutions is a leading provider of communications and analytics, primarily serving public safety departments as well as schools, hospitals, and businesses.
- The Trade: NVIDIA Corporation (NASDAQ:NVDA) EVP, Operations Debora Shoquist sold a total of 23,644 shares at an average price of $188.23. The insider received around $4.45 million from selling those shares.
- What’s Happening: NVIDIA recently reported Q1 financial results and issued guidance below analyst estimates.
- What NVIDIA Does: Nvidia is the top designer of discrete graphics processing units that enhance the experience on computing platforms.