The Nasdaq 100 closed down about 0.4% on Wednesday. Investors, meanwhile, focused on some important insider deals.
When insiders sell shares, it may be a planned sale, or they may indicate that they are concerned about the company’s prospects or that they believe the shares are overpriced. Insider sales should not be considered the only indicator for making an investment or trading decision. At best, it can lend conviction to a sales decision.
Below is a look at some notable recent insider sales. For more information, check it out Benzinga’s insider transactions platform.
Quin Street
The Commerce: QuinStreet, Inc. QNST Chief Financial Officer Gregory Wong sold a total of 8,407 shares at an average price of $15.03. The insider received over $126,357 from the sale of those shares.
What is going on: QuinStreet reported better-than-expected second-quarter financial results.
What QuinStreet does: QuinStreet Inc focuses on serving clients in large, information-intensive industries, where the company has pioneered a wide range of Internet marketing tools.
Check out our pre-market coverage here
Xylem
- The Commerce: Xylem Inc. XYL Vice President, Controller and CAO Geri-Michelle McShane he sold a total of 1,000 shares at an average price of $122.89. The insider received approximately $122,890 from the sale of those shares.
- What is going on: Xylem reported better-than-expected fourth-quarter financial results and released guidance for fiscal 2024.
- What Xylem does: Xylem is a global leader in water technology, offering a broad range of solutions, including the transportation, treatment, analysis and efficient use of water for customers in the utility, industrial, commercial and residential.
Moelis & Company
- The Commerce: Moelis & Company MC Co-Chair, MD Navid Mahmoodzadegan sold a total of 65,954 shares at an average price of $55.26. The insider received approximately $3.64 million from the sale of those shares.
- What is going on: Moelis reported a lower-than-expected quarterly loss.
- What Moelis & Company does: Moelis & Co is an independent investment bank providing strategic and financial advice to a diverse client base, including corporates, financial sponsors, governments and sovereign wealth funds.
DexCom
- The Commerce: DexCom, Inc. DXCM Executive Vice President, Chief Financial Officer Jeremy M. Sylvain sold a total of 3,363 shares at an average price of $116.73. The insider received approximately $392,563 from the sale of those shares.
- What is going on: DexCom posted positive quarterly earnings.
- What DexCom does: Dexcom designs and markets continuous glucose monitoring systems for diabetes patients.
Check it: The 4 major tech stocks that could collapse this month