SLB, Coinbase And 2 Other Stocks Insiders Are Selling

Coinbase Global, Inc. -0.53%
Schlumberger NV +1.79%
TimkenSteel Corp 0.00%
Zions Bancorporation -0.09%

Coinbase Global, Inc.

COIN

236.38

-0.53%

Schlumberger NV

SLB

47.07

+1.79%

TimkenSteel Corp

TMST

20.40

0.00%

Zions Bancorporation

ZION

43.05

-0.09%

The Nasdaq 100 closed higher by around 1% on Monday. 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.

Schlumberger

  • The Trade: Schlumberger Limited (NYSE:SLB) (Chief Sustainability Officer Katharina Beumelburg sold a total of 8,000 shares at an average price of $52.63. The insider received around $421,000 from selling those shares.
  • What’s Happening: Schlumberger recently reported a fourth-quarter fiscal 2023 revenue increase of 14% year-over-year to $8.99 billion, beating the consensus of $8.95 billion.
  • What Schlumberger Does: SLB, formerly known as Schlumberger, is the largest oilfield service firm in the world, with expertise in myriad disciplines, including reservoir performance, well construction, production enhancement, and more recently, digital solutions.

Have a look at our premarket coverage here

Zions Bancorporation

  • The Trade: Zions Bancorporation, National Association (NASDAQ:ZION) Exec VP Scott Anderson sold a total of 4,093 shares at an average price of $44.25. The insider received around $181,115 from selling those shares.
  • What’s Happening: Zions Bancorp posted better-than-expected quarterly earnings.
  • What Zions Bancorporation Does: Zions Bancorporation is a regional U.S. bank with core operations that span 11 states. The bank is headquartered in Salt Lake City and does business primarily in the Western and Southwestern United States.

Coinbase Global

  • The Trade: Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold a total of 97,836 shares at an average price of $121.99. The insider received around $11.93 million from selling those shares.
  • What’s Happening: On Friday, Oppenheimer analyst Owen Lau upgraded Coinbase from Perform to Outperform and maintained the price target of $160.
  • What Coinbase Global Does: Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States.

TimkenSteel

  • The Trade: TimkenSteel Corporation (NYSE:TMST) President and CEO Michael Williams sold a total of 9,500 shares at an average price of $21.02. The insider received around $199,725 from selling those shares.
  • What’s Happening: TimkenSteel announced its plans to change its name to Metallus Inc.
  • What TimkenSteel Does: TimkenSteel Corp is an America-based manufacturer of alloy steel, as well as carbon and micro-alloy steel.

 

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