The Nasdaq 100 closed higher by around 0.3% 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.
Tidewater
- The Trade: Tidewater Inc. (NYSE:TDW) Director Robert Robotti sold a total of 156,494 shares at an average price of $107.21. The insider received around $16.78 million from selling those shares.
- What's Happening: On May 2, Tidewater reported better-than-expected first-quarter EPS and sales.
- What Tidewater Does: Tidewater Inc provides offshore service vessels and marine support services to the offshore energy industry through the operation of a diversified fleet of marine service vessels.
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JPMorgan Chase
- The Trade: JPMorgan Chase & Co. (NYSE:JPM) Head of Human Resources Robin Leopold sold a total of 3,000 shares at an average price of $198.86. The insider received around $596,576 from selling those shares.
- What's Happening: JP Morgan Chase, during April, inaugurated a new Community Center branch in the Grand Concourse neighborhood of the Bronx.
- What JPMorgan Chase Does: JPMorgan Chase is one of the largest and most complex financial institutions in the United States, with nearly $3.9 trillion in assets.
Global Payments
- The Trade: Global Payments Inc. (NYSE:GPN) Senior Executive VP and CHRO Andrea M Carter sold a total of 3,300 shares at an average price of $111.34. The insider received around $367,422 from selling those shares.
- What's Happening: On May 1, Global Payments reported first-quarter financial results and issued guidance.
- What Global Payments Does: Global Payments is a leading provider of payment processing and software solutions and focuses on serving small and midsize merchants.
Teradata
- The Trade: Teradata Corporation (NYSE:TDC) Chief Customer Officer Michael D Hutchinson sold a total of 18,500 shares at an average price of $32.96. The insider received around $609,797 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.