Charles Schwab, Applied Materials And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed lower by over 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.

AppFolio

• The Trade: AppFolio, Inc. (NASDAQ:APPF) Director Maurice J Duca sold a total of 11,746 shares at an average price of $231.52. The insider received around $2.72 million from selling those shares.
• What's Happening: On June 10, Piper Sandler analyst Brent Bracelin initiated coverage on AppFolio with an Overweight rating and announced a price target of $295.
• What AppFolio Does: AppFolio Inc is a provider of cloud-based software solutions for real estate industry.

Have a look at our premarket coverage here

SEI Investments

• The Trade: SEI Investments Company (NASDAQ:SEIC) Director William Doran sold a total of 5,000 shares at an average price of $67.04. The insider received around $335,200 from selling those shares.
• What's Happening: On May 29, SEI declared a dividend of 46 cents per share.
• What SEI Investments Does: SEI Investments provides investment processing, management, and operations services to financial institutions, asset managers, asset owners, and financial advisors in four material segments: private banks, investment advisors, institutional investors, and investment managers.

Charles Schwab

• The Trade: The Charles Schwab Corporation (NYSE:SCHW) Director Carolyn Schwab-Pomerantz sold a total of 9,000 shares at an average price of $72.49. The insider received around $652,373 from selling those shares.
• What's Happening: On June 17, Keefe, Bruyette & Woods analyst Kyle Voigt maintained Charles Schwab with a Market Perform and maintained a $76 price target.
• What Charles Schwab Does: Charles Schwab operates in brokerage, wealth management, banking, and asset management.

Applied Materials

• The Trade: Applied Materials, Inc. (NASDAQ:AMAT) Director Thomas J Iannotti sold a total of 9,827 shares at an average price of $236.65. The insider received around $2.3 million from selling those shares.
• What's Happening: On June 20, B. Riley Securities analyst Craig Ellis maintained Applied Materials with a Buy and raised the price target from $255 to $300.
• What Applied Materials Does: Applied Materials is the largest semiconductor wafer fabrication equipment, or WFE, manufacturer in the world.

Check This Out: This Cloudflare Analyst Is No Longer Bearish; Here Are Top 5 Upgrades For Tuesday