Although gold futures traded lower on Tuesday, there were a few 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.
Broadcom
- The Trade: Broadcom Inc. (NASDAQ:AVGO) Chief Legal & Corp Affairs Ofc Mark Brazeal sold a total of 11,214 shares at an average price of $610.00. The insider received around $6.84 million from selling those shares.
- What’s Happening: Broadcom, earlier during the month, reported better-than-expected Q1 adjusted EPS and sales results.
- What Broadcom Does: Broadcom--the combined entity of Broadcom and Avago--boasts a highly diverse product portfolio across an array of end markets.
Dell Technologies
- The Trade: Dell Technologies Inc. (NYSE:DELL) Pres., Glob. Sales & Cust. Ops William Scannell sold a total of 162,314 shares at an average price of $53.76. The insider received around $8.73 million from selling those shares.
- What’s Happening: Evercore ISI recently upgraded the rating on Dell Technologies Inc to Outperform from In-Line.
- What Dell Does: Dell Technologies, born from Dell's 2016 acquisition of EMC, is a leading provider of servers, storage, and networking products through its ISG segment, and PCs, monitors, and peripherals via its CSG division.
Also check this: Executives Buy Around $39M Of 4 Stocks
Interactive Brokers
- The Trade: Interactive Brokers Group, Inc. (NASDAQ:IBKR) Chairman Thomas Peterffy sold a total of 40,000 shares at an average price of $66.18. The insider received around $2.65 million as a result of the transaction.
- What’s Happening: The company recently launched Carbon Offsets, a new feature available through IMPACT, Interactive Brokers’ mobile trading app developed for socially conscious investors.
- What Interactive Brokers Does: Interactive Brokers Group Inc, or IB, conducts broker-dealer agency business and proprietary trading business worldwide.
