US crude oil futures traded lower on Thursday. 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.
Robinhood Markets
- The Trade: Robinhood Markets, Inc. (NASDAQ:HOOD) Chief Financial Officer Jason Warnick sold a total of 20,000 shares at an average price of $9.70. The insider received around $194.1 thousand from selling those shares.
- What’s Happening: Robinhood Markets said it is now paying users 1% interest for holding their uninvested money on the app.
- What Robinhood Markets Does: Robinhood Markets Inc is creating a modern financial services platform. It designs its own products and services and delivers them through a single, app-based cloud platform supported by proprietary technology.
GoPro
- The Trade: GoPro, Inc. (NASDAQ:GPRO) Director Tyrone Ahmad-Taylor sold a total of 16,257 shares at an average price of $6.48. The insider received around $105.42 thousand from selling those shares.
- What’s Happening: GoPro recently reported worse-than-expected Q1 sales results.
- What GoPro Does: GoPro Inc is a United States-based company that is principally engaged in designing and providing cameras, mounts, drones and appliances.
Also check this: Insiders Buy Around $63M Of 2 Stocks
Kellogg
- The Trade: Kellogg Company (NYSE:K) 10% owner Kellogg W K Foundation sold a total of 146,153 shares at an average price of $74.06. The insider received around $10.82 million as a result of the transaction.
- What’s Happening: Kellogg recently reported better-than-expected Q1 results and raised guidance.
- What Kellogg Does: Founded in 1906, Kellogg is a leading global manufacturer and marketer of cereal, cookies, crackers, and other packaged foods.
Have a look at our premarket coverage here .
Scotts Miracle-Gro Company
- The Trade: The Scotts Miracle-Gro Company (NYSE:SMG) EVP and CCO James D King sold a total of 17,500 shares at an average price of $98.42. The insider received around $1.72 million from selling those shares.
- What’s Happening: The company recently posted upbeat quarterly results.
- What Scotts Miracle-Gro Does: Scotts Miracle-Gro is the largest provider of gardening and lawncare products in the United States. The majority of the company's sales are to large retailers that include Home Depot, Lowe's, and Walmart.
