The US economy added 528,000 jobs in July. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it indicates their concern in the company’s prospects or that they view the stock as being overpriced. Either way, this signals an opportunity to go short on the stock. 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.
- The Trade: Zendesk, Inc. ZEN Chair and CEO Mikkel Svane sold a total of 101,930 shares at an average price of $75.28. The insider received around $7.67 million from selling those shares.
- What’s Happening: The company recently posted upbeat quarterly results.
- What Zendesk Does: Founded in 2007, Zendesk provides a portfolio of customer engagement software solutions via single applications or the Sunshine suite.
- The Trade: Block, Inc. SQ CFO Amrita Ahuja sold a total of 3,820 shares at an average price of $78.89. The insider received around $301.36 thousand as a result of the transaction.
- What’s Happening: The company reported upbeat Q2 results.
- What Block Does: Founded in 2009, Block provides payment acquiring services to merchants, along with related services.
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- The Trade: Lockheed Martin Corporation LMT Executive Vice President Gregory M Ulmer sold a total of 6,929 shares at an average price of $423.87. The insider received around $2.94 million from selling those shares.
- What’s Happening: Lockheed Martin, last month, reported a second-quarter FY22 net sales decline of 9.3% year-over-year to $15.45 billion, missing the consensus of $16.05 billion.
- What Lockheed Martin Does: Lockheed Martin is the largest defense contractor globally and has dominated the Western market for high-end fighter aircraft since the F-35 program was awarded in 2001.
- The Trade: S&P Global Inc. SPGI EVP, Chief Legal Officer Steven Kemps sold a total of 10,300 shares at an average price of $369.14. The insider received around $3.8 million from selling those shares.
- What’s Happening: S&P Global reported second-quarter FY22 revenue growth of 42% year-on-year to $2.99 billion, missing the consensus of $3.01 billion.
- What S&P Global Does: S&P Global provides data and benchmarks to capital and commodity market participants.
Image and article originally from www.benzinga.com. Read the original article here.