The Nasdaq 100 experienced a significant decline during Friday’s trading session, closing over 500 points lower. Amidst this market volatility, investors are closely monitoring insider trades, which can provide valuable insights into company prospects and potential stock price movements.
When insiders sell shares, it could be a planned transaction, or it might reflect concerns about the company’s future performance or a belief that the stock is overvalued. While insider sales shouldn’t be the sole basis for investment decisions, they can strengthen the case for selling a particular stock.
Here’s a look at recent notable insider sales:
Microsoft
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The Trade:
Amy Hood, EVP and CFO of Microsoft Corporation (MSFT), sold 40,450 shares at an average price of $410.55, generating approximately $15.6 million from the sale.*
What’s Happening:
Microsoft recently unveiled a new line of Windows PCs equipped with AI capabilities.*
What Microsoft Does:
Microsoft specializes in developing and licensing consumer and enterprise software.McKesson
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The Trade:
Brian S. Tyler, CEO of McKesson Corporation (MCK), sold 3,753 shares at an average price of $561.10, receiving around $2.11 million from the transaction.*
What’s Happening:
McKesson recently finalized an agreement to sell its Canadian businesses, Rexall and Well.ca, to Birch Hill Equity Partners.*
What McKesson Does:
McKesson Corp is a leading pharmaceutical wholesaler in the US, sourcing and distributing branded, generic, and specialty pharmaceutical products to pharmacies, hospitals, and healthcare providers.News Corporation
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The Trade:
David R Kline, Chief Technology Officer of News Corporation (NWSA), sold 10,000 shares at an average price of $26.96, earning $269,626 from the sale.*
What’s Happening:
On August 8th, News Corporation reported better-than-expected financial results for the fourth quarter.*
What News Corporation Does:
News Corporation is a diversified media conglomerate with significant operations in the US, UK, and Australia.Fluor
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The Trade:
Joseph L Brennan, EVP and CFO of Fluor Corporation (FLR), sold 31,260 shares at an average price of $46.65, generating approximately $1.46 million from the transaction.*
What’s Happening:
On August 2nd, Fluor reported second-quarter fiscal 2024 revenue growth of 7.3% year-over-year, reaching $4.227 billion, slightly below the consensus estimate of $4.360 billion.*
What Fluor Does:
Fluor is a leading global provider of engineering, procurement, construction, fabrication, operations, and maintenance services.By closely monitoring these insider trades and considering other relevant market factors, investors can gain valuable insights into potential market trends and make informed investment decisions.
