The Nasdaq 100 closed higher by around 2% on Friday. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. 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.
Micron Technology
- The Trade: Micron Technology, Inc. (NASDAQ:MU) EVP, Technology & Products Scott J Deboer sold a total of 40,000 shares at an average price of $110.31. The insider received around $4.41 million from selling those shares.
- What's Happening: On April 25, Micron announced signing a non-binding Preliminary Memorandum of Terms (PMT) for $6.1 billion in funding under the CHIPS and Science Act.
- What Micron Does: Micron is one of the largest semiconductor companies in the world, specializing in memory and storage chips.
Have a look at our premarket coverage here
Levi Strauss
- The Trade: Levi Strauss & Co. (NYSE:LEVI) Director David A Friedman sold a total of 16,666 shares at an average price of $21.42. The insider received around $357,027 from selling those shares.
- What's Happening: On April 11, Levi Strauss & Co. named Gianluca Flore as Chief Commercial Officer.
- What Levi Strauss Does: Levi Strauss & Co is involved in designing, marketing, and selling products that include jeans, casual and dresses pants, tops, shorts, skirts, jackets, footwear, and related accessories directly or through third parties and licensees for men, women, and children under Levi’s, Dockers, Signature by Levi Strauss & Co. and Denizen brands.
QUALCOMM
- The Trade: QUALCOMM Incorporated (NASDAQ:QCOM) Chief Technology Officer James H Thompson sold a total of 8,000 shares at an average price of $182.00. The insider received around $1.46 million from selling those shares.
- What's Happening: On May 1, Qualcomm reported better-than-expected second-quarter financial results and raised its dividend.
- What QUALCOMM Does: Qualcomm develops and licenses wireless technology and designs chips for smartphones.
GoDaddy
- The Trade: GoDaddy Inc. (NYSE:GDDY) Chief Operating Officer Roger Chen sold a total of 4,000 shares at an average price of $122.60. The insider received around $490,400 from selling those shares.
- What's Happening: On May 2, GoDaddy reported upbeat first-quarter financial results.
- What GoDaddy Does: GoDaddy is a provider of domain registration and aftermarket services, website hosting, security, design, and business productivity tools, commerce solutions, and domain registry services.
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