The Nasdaq 100 closed higher by around 2.5% during Thursday'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.
Bentley Systems
- The Trade: Bentley Systems, Incorporated (NASDAQ:BSY) Chief Product Officer Michael M Campbell sold a total of 4,578 shares at an average price of $47.27. The insider received around $216,416 from selling those shares.
- What's Happening: On Sept. 16, Rosenblatt analyst Blair Abernethy maintained Bentley Systems with a Buy and maintained a $62 price target.
- What Bentley Systems Does: Bentley Systems is a software vendor that caters to engineers, architects, constructors, and geospatial professionals by enabling design, modeling, simulation and project, and data management of infrastructure assets.
Clean Harbors
- The Trade: Clean Harbors, Inc. (NYSE:CLH) Director Lauren States sold a total of 309 shares at an average price of $244.09. The insider received around $75,424 from selling those shares.
- What's Happening: On July 31, Clean Harbors reported better-than-expected second-quarter financial results and raised its FY24 adjusted EBITDA guidance.
- What Clean Harbors Does: Clean Harbors Inc is an environmental and industrial services provider.
Read More:
- Nvidia, Tesla Rally As Dow, S&P 500 Surge To Fresh Highs After Fed Cuts Rates: Fear Index Remains In 'Greed' Zone
