Apple and 3 other stock insiders sell

Gold futures traded lower on Monday. Investors, meanwhile, focused on some notable insider trades.

When insiders sell shares, it indicates that they are concerned about the prospects of the company or that they consider the stock to be overvalued. Either way, this signals an opportunity to go short on the stock. Insider selling should not be considered the sole indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.

Below is an overview of some recent notable insider sales. To find out more, see Benzinga Insider Trading Platform.

Apple

  • The exchange: Apple Inc. AAPL SVP, GC and Secretary Katherine L Adams sold a total of 25,000 shares at an average price of $161.72. The insider received approximately $4.04 million from the sale of these shares.
  • What is happening: Apple is reportedly exploring a new addition to its services business, underscoring Cupertino’s focus on this rapidly growing unit.
  • What Apple does: Apple designs a wide variety of consumer electronics, including smartphones (iPhone), tablets (iPad), PCs (Mac), smartwatches (Apple Watch), AirPods and TV boxes (Apple TV), among others.

Twitter

  • The exchange: Twitter, Inc. TWTR Chief Revenue Officer Bruce Falck sold a total of 20,069 shares at an average price of $48.89. The insider received approximately $981.2 thousand from the sale of these shares.
  • What is happening: Twitter reportedly talked about advertising opportunities on its platform at an event in New York, even as Tesla CEO Elon Musk prepares to take over the company.
  • What does Twitter do: Twitter is an open distribution platform and a conversation platform around short text content (maximum 280 characters), images and videos.

Also check this: 4 Stocks Under $3 Insiders Are Buying Aggressively

the morning star

  • The exchange: Morningstar, Inc. MORNING Executive Chairman Joseph Mansueto sold a total of 9,007 shares at an average price of $258.12. The insider received approximately $2.32 million as a result of the transaction.
  • What is happening: Morningstar in April reported Q1 Adjusted EPS of $1.41.
  • What Morningstar does: Morningstar Inc is a provider of independent investment research for financial advisors, asset managers and investors. The company focuses its operations on two main sectors: data and research.

Take a look at our pre-market coverage here.

western digital

  • The exchange: Western digital society WDC SVP & Principal. Accountant Gene Zamiska sold a total of 4,776 shares at an average price of $63.00. The insider received approximately $300.89 thousand from the sale of these shares.
  • What is happening: Elliott Investment Management recently sent a letter to Western Digital’s board, calling for a full strategic review of the value that could be created by spinning off its flash unit.
  • What Western Digital does: Western Digital is a leading vertically integrated provider of data storage solutions, spanning both hard disk drives (HDDs) and solid state drives.

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