The Nasdaq Composite traded slightly higher on Monday. 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.
Kulicke and Soffa Industries
- The Trade: Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) Senior Vice President Wong Nelson Munpun sold a total of 5,000 shares at an average price of $53.80. The insider received around $269 thousand from selling those shares.
- What’s Happening: Kulicke And Soffa Industries reported better-than-expected Q1 EPS results.
- What Kulicke and Soffa Industries Does: Kulicke & Soffa Industries Inc is a United States-based company that is principally engaged in designing, manufacturing, and selling capital equipment and expendable tools that are used for assembling semiconductor devices.
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Jacobs Solutions
- The Trade: Jacobs Solutions Inc. (NYSE:J) Executive Chair Steven J Demetriou sold a total of 6,666 shares at an average price of $116.77. The insider received around $778.39 thousand from selling those shares.
- What’s Happening: Jacobs Solutions secured the Consolidated Operations, Management, Engineering & Test (COMET) contract at NASA Kennedy Space Center (KSC).
- What Jacobs Solutions Does: Jacobs Solutions is a global provider of engineering, design, procurement, construction, and maintenance services as well as cyber engineering and security solutions.
Pfizer
- The Trade: Pfizer Inc. (NYSE:PFE) SVP and Controller Jennifer B Damico sold a total of 10,272 shares at an average price of $40.08. The insider received around $411.71 thousand from selling those shares.
- What’s Happening: Pfizer and Astellas Pharma released topline results from the Phase 3 EMBARK trial evaluating Xtandi (enzalutamide) in non-metastatic hormone-sensitive prostate cancer.
- What Pfizer Does: Pfizer is one of the world’s largest pharmaceutical firms, with annual sales close to $50 billion (excluding COVID-19 product sales).
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