Dell, Applied Materials And 2 Other Stocks Insiders Are Selling

Author: Avi Kapoor | June 11, 2024 08:38am

The Nasdaq 100 closed higher by around 0.4% on Monday. 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.

Dell Technologies

The Trade: Dell Technologies Inc. (NYSE:DELL) CEO Michael S Dell sold a total of 1,480,242 shares at an average price of $133.91. The insider received around $198.2 million from selling those shares.
What's Happening: On May 30, Dell reported upbeat earnings and sales results for the first quarter.
What Dell Does: Dell Technologies is a broad information technology vendor, primarily supplying hardware to enterprises.

Have a look at our premarket coverage here

JPMorgan Chase

The Trade: JPMorgan Chase & Co. (NYSE:JPM) Chief Risk Officer Ashley Bacon sold a total of 5,086 shares at an average price of $199.54. The insider received around $1.01 million from selling those shares.
What's Happening: JPMorgan Chase hired former PayPal Executive Sri Shivananda as new CTO, succeeding retiring A.J. Lang.
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.

Applied Materials

The Trade: Applied Materials, Inc. (NASDAQ:AMAT) SVP, CLO Teri A. Little sold a total of 2,500 shares at an average price of $221.62. The insider received around $554,050 from selling those shares.
What's Happening: On June 5, Barclays upgraded the stock from Underweight to Equal-Weight and raised its price target from $165 to $225.
What Applied Materials Does: Applied Materials is the largest semiconductor wafer fabrication equipment, or WFE, manufacturer in the world.

Hewlett Packard Enterprise

The Trade: Hewlett Packard Enterprise Company (NYSE:HPE) Director Gary M Reiner sold a total of 50,000 shares at an average price of $19.51. The insider received around $975,500 from selling those shares.
What's Happening: On June 4, Hewlett Packard Enterprise reported better-than-expected second-quarter financial results.
What Hewlett Packard Enterprise Does: Hewlett Packard Enterprise is an information technology vendor that provides hardware and software to enterprises.

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Posted In: AMAT DELL HPE JPM