Gold futures traded lower on Friday, dropping around 0.7%. 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: Twitter, Inc. (NYSE:TWTR) Chief Financial Officer Ned Segal sold a total of 5,000 shares at an average price of $47.85. The insider received around $239.25 thousand from selling those shares.
- What’s Happening: After running the hard mile to mobilize finances for his Twitter buy, Elon Musk said early Friday the deal is on hold.
- What Twitter Does: Twitter is an open distribution platform for and a conversational platform around short-form text (a maximum of 280 characters), image, and video content.
Unum Group
- The Trade: Unum Group (NYSE:UNM) President and CEO Richard McKenney sold a total of 35,271 shares at an average price of $36.49. The insider received around $1.29 million from selling those shares.
- What’s Happening: Unum recently reported better-than-expected Q1 EPS results.
- What Unum Group Does: Unum Group is a provider of group and individual income protection insurance products in the United States, the United Kingdom, Poland, and other countries.
Also check this: Insiders Buy Around $63M Of 2 Stocks
Fluor
- The Trade: Fluor Corporation (NYSE:FLR) Director James Hackett sold a total of 40,000 shares at an average price of $25.56. The insider received around $1.02 million as a result of the transaction.
- What’s Happening: Fluor recently reported a first-quarter FY22 revenue decline of 6.7% year-over-year to $3.12 billion, beating the consensus of $2.88 billion.
- What Fluor Does: Fluor is one of the largest global providers of engineering, procurement, construction, fabrication, operations, and maintenance services.
Have a look at our premarket coverage here .
Ciena
- The Trade: Ciena Corporation (NYSE:CIEN) President, CEO Gary B Smith sold a total of 3,542 shares at an average price of $51.62. The insider received around $182.85 thousand from selling those shares.
- What’s Happening: Ciena is expected to announce its fiscal second quarter financial results on Thursday, June 2, 2022.
- What Ciena Does: Ciena Corp is a network strategy and technology company. It provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks.
