Dell, Palo Alto Networks And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed higher by more than 100 points on Thursday. 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. DELL CEO Michael S Dell sold a total of 5,681,929 shares at an average price of $133.99. The insider received around $761.3 million from selling those shares.
• What's Happening: On June 11, Dell Technologies declared a quarterly cash dividend of 44.5 cents per common share.
• What Dell Does: Dell Technologies is a broad information technology vendor, primarily supplying hardware to enterprises.

Have a look at our premarket coverage here

Snap

• The Trade: Snap Inc. SNAP Director Joanna Coles sold a total of 3,950 shares at an average price of $15.17. The insider received around $59,922 from selling those shares.
• What's Happening: On May 9, Snap announced the pricing of a private offering of $650 million of convertible senior notes due 2030.
• What Snap Does: Snap owns one of the most popular social networking apps, Snapchat, claiming more than 400 million daily active users as of the end of 2023.

Palo Alto Networks

• The Trade: Palo Alto Networks, Inc. PANW Director John P. Key sold a total of 1,000 shares at an average price of $312.39. The insider received around $312,390 from selling those shares.
• What's Happening: On June 12, Morgan Stanley analyst Hamza Fodderwala maintained Palo Alto Networks with an Overweight and maintained a $360 price target.
• What Palo Alto Networks Does: Palo Alto Networks is a platform-based cybersecurity vendor with product offerings covering network security, cloud security, and security operations.

ON Semiconductor

• The Trade: ON Semiconductor Corporation ON Exec VP & CFO Trent Thad sold a total of 38,000 shares at an average price of $72.55. The insider received around $2.76 million from selling those shares.
• What's Happening: ON Semiconductor announced a workforce consolidation and site optimization plan.
• What ON Semiconductor Does: Onsemi is a supplier of power semiconductors and sensors focused on the automotive and industrial markets.

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