The Nasdaq 100 closed higher by over 150 points during Tuesday's session. 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
The Trade: Dell Technologies Inc. (NYSE:DELL) CEO Michael S Dell sold a total of 3,397,465 shares at an average price of $106.37. The insider received around $361.4 million from selling those shares.
What's Happening: On Sept. 10, Susquehanna analyst Mehdi Hosseini initiated coverage on Dell Technologies with a Neutral rating and announced a price target of $120.
What Dell Does: Dell Technologies is a broad information technology vendor, primarily supplying hardware to enterprises.
Benzinga Pro's real-time newsfeed alerted to latest Dell news.
Alphabet
The Trade: Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) VP, Chief Accounting Officer Amie Thuener O'Toole sold a total of 2,835 shares at an average price of $151.53. The insider received around $429,588 from selling those shares.
What's Happening: On Sept. 10, DA Davidson analyst Gil Luria initiated coverage on Alphabet with a Neutral rating and announced a price target of $170.
What Alphabet Does: Alphabet is a holding company that wholly owns internet giant Google.
Benzinga Pro's charting tool helped identify the trend in GOOGL stock.
NVIDIA
The Trade: NVIDIA Corporation (NASDAQ:NVDA) CEO and President Jen Hsun Huang sold a total of 240,000 shares at an average price of $104.35. The insider received around $25 million from selling those shares.
What's Happening: U.S. antitrust authorities have reportedly initiated an early-stage investigation into NVIDIA over its potential dominance in the artificial intelligence chip market.
What NVIDIA Does: Nvidia is a leading developer of graphics processing units. Traditionally, GPUs were used to enhance the experience on computing platforms, most notably in gaming applications on PCs.
Benzinga Pro's signals feature notified of a potential breakout in NVDA shares.
Bank of America
The Trade: Bank of America Corporation (NYSE:BAC) 10% owner Warren E Buffett sold a total of 5,797,093 shares at an average price of $39.45. The insider received around $228.7 million from selling those shares.
What's Happening: Bank of America announced that it has increased its U.S. minimum hourly wage to $24 per hour, the latest step in the company's commitment to $25 by 2025.
What Bank of America Does: Bank of America is one of the largest financial institutions in the United States, with more than $3.0 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking, and global markets.
Benzinga Pro's Insiders feature was used to track insider trading in BAC's shares.
Jim Cramer Says AES Is 'Very Inexpensive', Recommends Buying This Industrial Stock
Bank of Americaのビジネス内容：Bank of Americaは、3兆ドル以上の資産を保有するアメリカ最大の金融機関の1つであり、消費者銀行業務、グローバル・ウェルス・アンド・インベストメント・マネジメント、グローバル・バンキング、グローバル・マーケットの4つの大きなセグメントに組織されています。
オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会（ASIC）の管理を受けております（AFSL No. 224663）。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。
オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会（ASIC）の管理を受けております（AFSL No. 224663）。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。
