The Nasdaq Composite jumped 2.64% at 17,599.40 during Wednesday'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.
Franklin Electric
- The Trade: Franklin Electric Co., Inc. (NASDAQ:FELE) Executive Chairperson Gregg C Sengstack sold a total of 15,396 shares at an average price of $105.48. The insider received around $1.6 million from selling those shares.
- What's Happening: On July 23, Franklin Electric reported worse-than-expected second-quarter financial results.
- What Franklin Electric Does: Franklin Electric Co Inc designs, manufactures, and distributes water and fuel pumping systems, composed of submersible motors, pumps, electronic controls, water treatment systems, and related parts and equipment
Buckle
- The Trade: The Buckle, Inc. (NYSE:BKE) President and CEO Dennis H Nelson sold a total of 20,487 shares at an average price of $41.33. The insider received around $846,672 from selling those shares.
- What's Happening: On July 11, Buckle reported June 2024 net sales of $101.7 million.
- What Buckle Does: Buckle Inc is a retailer of casual apparel, footwear, and accessories.
NVIDIA
- The Trade: NVIDIA Corporation (NASDAQ:NVDA) President and CEO Jen Hsun Huang sold a total of 240,000 shares at an average price of $109.93. The insider received around $26.4 million from selling those shares.
- What's Happening: NVIDIA will host a conference call on Wednesday, Aug. 28, to discuss its financial results for the second quarter.
- What NVIDIA Does: Nvidia is a leading developer of graphics processing units.
Maplebear
- The Trade: Maplebear Inc. (NASDAQ:CART) President and CEO Fidji Simo sold a total of 8,500 shares at an average price of $34.53. The insider received around $293,511 from selling those shares.
- What's Happening: On July 31, Instacart and Albertsons Companies expanded partnership nationwide launching pickup services and convenience delivery.
- What Maplebear Does: Maplebear (Instacart) operates a leading grocery delivery platform in the United States and Canada.
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