Meta Platforms, Pure Storage And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed lower by around 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.

Meta Platforms

• The Trade: Meta Platforms, Inc. META Chief Legal Officer Jennifer Newstead sold a total of 585 shares at an average price of $498.59. The insider received around $291,675 from selling those shares.
• What's Happening: Meta Platforms announced new features in its Meta AI assistant, including expanded availability and real-time image creation capabilities.
• What Meta Platforms Does: Meta is the world’s largest online social network, with nearly 4 billion family of apps monthly active users.

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Pure Storage

• The Trade: Pure Storage, Inc. PSTG Chief Revenue Officer Dan Fitzsimons sold a total of 29,283 shares at an average price of $52.14. The insider received around $1.53 million from selling those shares.
• What's Happening: On April 11, Susquehanna analyst Mehdi Hosseini maintained Pure Storage with a Positive and raised the price target from $45 to $65.
• What Pure Storage Does: Pure Storage Inc is a U.S.-based company that provides an enterprise data storage platform that transforms business through a dramatic increase in performance and reduction in complexity and costs.

Shoe Carnival

• The Trade: Shoe Carnival, Inc. SCVL Director Andrea R. Guthrie sold a total of 2,467 shares at an average price of $32.46. The insider received around $80,079 from selling those shares.
• What's Happening: On March 21, Shoe Carnival reported a fourth-quarter FY23 sales decline of 3.7% year-on-year to $280.17 million, marginally missing the analyst consensus estimate of $280.27 million.
• What Shoe Carnival Does: Shoe Carnival Inc is a family footwear retailer that offers a broad assortment of dress, casual and athletic footwear for men, women, and children with an emphasis on national name brands such as Nike, Skechers, Adidas, Puma, HEYDUDE, Converse, Vans, and Crocs.

BioLife Solutions

• The Trade: BioLife Solutions, Inc. BLFS Chief Marketing Officer Todd Berard sold a total of 10,000 shares at an average price of $15.67. The insider received around $156,700 from selling those shares.
• What's Happening: BioLife Solutions announceD the divestiture of its Stirling Freezer Business.
• What BioLife Solutions Does: BioLife Solutions Inc is active in the healthcare segment.

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