US crude oil futures were trading lower on Thursday morning. Investors, meanwhile, focused on some notable insider trading.
When insiders sell stock, it shows they are concerned about the company’s prospects or that they think the stock is overpriced. Either way, it signals an opportunity to go short on the stock. Insider selling should not be considered the sole indicator of an investment or trading decision. At best, it can persuade a sales decision.
Below is a look at some notable recent insider sales. For more information, see Benzinga insider trading Platform.
Tesla
- The trade: Tesla, Inc. TSLA CFO Zachary Kirkhorn sold a total of 3,750 shares at an average price of $300.59. The insider received around $1.13 million from the sale of those shares.
- What’s happening: Needham upgraded Tesla to Hold from Underperform.
- What Tesla does: Tesla was founded in 2003 and is based in Palo Alto, California. Tesla is a vertically integrated sustainable energy company that also aims to electrify the world by manufacturing electric vehicles.
Drop box
- The trade: Dropbox, Inc. DBX Chief Legal Officer Bart Volkmer sold a total of 11,000 shares at an average price of $23.03. The insider received approximately $253.32 thousand from the transaction.
- What’s happening: Keybanc began reporting on Dropbox with an Overweight rating and announced a price target of $30.
- What Dropbox does: Dropbox is a leading provider of cloud storage and content collaboration tools with a focus on individuals and SMBs.
Check out ours premarket coverage here .
Dell Technologies
- The trade: Dell Technologies Inc. Dell Pres., Glob. Sales & Customers Ops William Scannell sold a total of 27,536 shares at an average price of $40.20. The insider received around $1.11 million from the sale of those shares.
- What’s happening: Dell Technologies and Red…