Nikola And 2 Other Stocks Insiders Are Selling

The Nasdaq index closed higher on Monday. Investors, meanwhile, focused on some notable insider trades.

When insiders sell shares, it indicates their concern in the company’s prospects or that they view the stock as being overpriced. Either way, this signals an opportunity to go short on the stock. 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.

Nikola

• The Trade: Nikola Corporation (NASDAQ: NKLA) Director Mark Russell sold a total of 327,260 shares at an average price of $0.78. The insider received around $256.39 thousand from selling those shares.
• What’s Happening: Nikola reported worse-than-expected first-quarter sales results..
• What Nikola Does: Nikola, headquartered in Phoenix, Arizona, operates as a technology innovator and integrator that develops energy and transportation solutions.
• Have a look at our premarket coverage here

Mastercard

• The Trade: Mastercard Incorporated (NYSE: MA) 10% owner Mastercard Foundation sold a total of 377,448 shares at an average price of $381.83. The insider received around $144.12 million from selling those shares.
• What’s Happening: Mastercard reported first-quarter net revenues of $5.75 billion, up 11% Y/Y and 14% on neutral currency basis, beating the consensus of $5.64 billion.
• What Mastercard Does: Mastercard is the second-largest payment processor in the world, having processed close to over $8 trillion in transactions during 2022.

J.B. Hunt Transport

• The Trade: J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) EVP and CFO John Kuhlow sold a total of 3,500 shares at an average price of $176.05. The insider received around $616.18 thousand from selling those shares.
• What’s Happening: JB Hunt Transport Servs posted downbeat first-quarter results.
• What J.B. Hunt Transport Does: J.B. Hunt Transport Services ranks among the top surface transportation companies in North America by revenue.

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