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When insiders sell shares, it may be a pre-planned sale and may signal concerns about the company’s prospects or a view that the stock price is too high. Insider sales should not be considered the only indicator for making an investment or trading decision. At best, it can provide some confidence in the decision to sell.
Below are some notable recent insider selling: You can find more information on Benzinga’s Insider Trades platform .
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Philip Morris International
The transaction: Massimo Andolina, president of Europe for Philip Morris International (NYSE:PM), sold a total of 9,000 shares at an average price of $115.35. The insider received approximately $1.04 million from the sale of these shares.
Current situation: July 23rd, Philip Morris International shares are rising after the company reported better-than-expected second-quarter results and raised its FY24 adjusted EPS guidance.
What Philip Morris International does: Formed in 2008 from Altria’s international business, Philip Morris International sells tobacco and reduced-risk products, including HeatSticks, vapes and oral nicotine products, primarily outside the United States.
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NVIDIA
The deal: Jen Hsun Huang, president and CEO of NVIDIA Corporation (NASDAQ:NVDA), sold a total of 240,000 shares at the average price of $103.82. The insider received approximately $24.9 million from the sale of these shares.
Current Status: On August 6, New Street Research upgraded the stock from Neutral to Buy.
What NVIDIA does: Nvidia is a leading developer of graphics processing units. Traditionally, GPUs have been used to improve the experience on computing platforms, especially PCs, in gaming applications.
Benzinga Pro’s charting tool was useful in identifying trends in NVDA shares.
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Jiro
The transaction: Jennifer Rock, Chief Accounting Officer of Zillow Group, Inc. (NASDAQ:ZG), sold a total of 4,050 shares at the average price of $49.23. The insider received approximately $199,361 from the sale of these shares.
Current situation: On August 12, Susquehanna analyst Shyam Patil maintained a neutral rating on Zillow and raised his price target from $42 to $55.
What Zillow does: Zillow Group Inc is an Internet-based real estate company that provides customers with an on-demand buying, selling, renting and financing experience that is transparent and easy.
Benzinga Pro’s Signals feature will alert you to a potential breakout in ZG shares.
Paycom Software
The transaction: Chad R. Richison, director, CEO, president and chairman of Paycom Software, Inc. (NYSE:PAC), sold a total of 3,900 shares at the average price of $158.27. The insider received approximately $617,257 from the sale of these shares.
Current situation: On July 31, Paycom Software reported strong quarterly results.
What Paycom Software does: Paycom is a fast-growing provider of payroll and human capital management software targeting customers with 50-10,000 employees primarily in the United States.
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This article Nvidia, Philip Morris International, 2 Other Stocks Insider Selling originally appeared on Benzinga.com
