The Nasdaq 100 closed higher by around 0.2% on Thursday. 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.
Mattel
- The Trade: Mattel, Inc. (NASDAQ:MAT) EVP & Chief Supply Chain Offr Zanatta Roberto Jacobo Isaias sold a total of 21,655 shares at an average price of $18.83. The insider received around $407,829 from selling those shares.
- What's Happening: On April 23, Mattel reported better-than-expected first-quarter adjusted EPS results.
- What Mattel Does: Mattel markets toy products that are sold to its wholesale customers and direct to retail consumers.
Have a look at our premarket coverage here
Delta Air Lines
- The Trade: Delta Air Lines, Inc. (NYSE:DAL) EVP & Chief People Officer Joanne D Smith sold a total of 4,846 shares at an average price of $52.30. The insider received around $253,422 from selling those shares.
- What's Happening: On April 10, Delta Air Lines reported better-than-expected first-quarter earnings.
- What Delta Air Lines Does: Atlanta-based Delta Air Lines is one of the world's largest airlines, with a network of over 300 destinations in more than 50 countries.
PriceSmart
- The Trade: PriceSmart, Inc. (NASDAQ:PSMT) Director Sherry S. Bahrambeygui sold a total of 10,000 shares at an average price of $85.29. The insider received around $852,868 from selling those shares.
- What's Happening: On April 9, PriceSmart reported better-than-expected seconc-quarter results and announced a one-time special dividend of $1 per share.
- What PriceSmart Does: Pricesmart Inc is principally engaged in operating U.S.-style membership shopping warehouse clubs that offer consumer goods at low prices.
Levi Strauss
- The Trade: Levi Strauss & Co. (NYSE:LEVI) EVP & Chief Fin. & Growth Ofc. Harmit J Singh sold a total of 629,000 shares at an average price of $22.10. The insider received around $13.9 million 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.