The Nasdaq 100 closed higher by around 0.2% on Tuesday. 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.
QUALCOMM
- The Trade: QUALCOMM Incorporated (NASDAQ:QCOM) Director Neil Smit sold a total of 3,069 shares at an average price of $200.94. The insider received around $616,670 from selling those shares.
- What's Happening: Dell unveiled PCs with Qualcomm Snapdragon chips.
- What QUALCOMM Does: Qualcomm develops and licenses wireless technology and designs chips for smartphones.
Have a look at our premarket coverage here
Ball Corporation
- The Trade: Ball Corporation (NYSE:BALL) Director Pedro Henrique Mariani sold a total of 5,000 shares at an average price of $69.90. The insider received around $349,486 from selling those shares.
- What's Happening: On April 26, Ball reported better-than-expected first-quarter earnings.
- What Ball Corporation Does: Ball is the world's largest metal can manufacturer with market share over 40% in its three main regions (North America, Europe, and South America).
American Express
- The Trade: American Express Company (NYSE:AXP) Grp. Pres., GMNS Raymond Joabar sold a total of 2,655 shares at an average price of $242.79. The insider received around $644,770 from selling those shares.
- What's Happening: American Express recently declared a dividend on Series D Preferred Stock and regular quarterly dividend.
- What American Express Does: American Express is a global financial institution, operating in about 130 countries, that provides consumers and businesses charge and credit card payment products.
Teradata
- The Trade: Teradata Corporation (NYSE:TDC) Director Timothy C K Chou sold a total of 6,356 shares at an average price of $33.43. The insider received around $212,462 from selling those shares.
- What's Happening: On May 6, Teradata reported mixed first-quarter financial results and issued second-quarter guidance.
- What Teradata Does: Teradata Corp provides analytic data products and related services.