Fifth Third Bancorp (FITB), Genpact Limited (G) – Insiders are selling Genpact, Palo Alto Networks and this financial services stock

Gold futures were trading lower this Wednesday morning. Investors, meanwhile, focused on some notable insider trading.

When insiders sell stock, it shows they are concerned about the company’s prospects or that they think the stock is overpriced. Either way, it signals an opportunity to go short on the stock. Insider selling should not be considered the sole indicator of an investment or trading decision. At best, it can persuade a sales decision.

Below is a look at some notable recent insider sales. For more information, see Benzinga insider trading Platform.

Palo Alto Networks

  • The trade: Palo Alto Networks, Inc. PANW CEO Nikesh Arora sold a total of 12,500 shares at an average price of $554.56. The insider received around $6.93 million from the sale of those shares.
  • What’s happening: Palo Alto Networks recently reported better-than-expected Q4 results and issued a FY23 revenue guidance that’s ahead of estimates.
  • What Palo Alto Networks does: Palo Alto Networks is a pure-play cybersecurity provider that sells security applications, subscriptions, and support to businesses, government agencies, and service providers.

Also Check This: Fear & Greed Index falls but remains in the “neutral” zone

gene pact

  • The trade: Genpact Limited G Senior Vice President Balkrishan Kalra sold a total of 10,000 shares at an average price of $47.35. The insider received approximately $473.54 thousand through the transaction.
  • What’s happening: The company recently released positive quarterly results.
  • What Genpact does: Genpact Ltd is a business process management services provider. Customers are industry verticals and operate in banking and financial services, insurance, capital markets, consumer products, life sciences, infrastructure, manufacturing and services, healthcare and high tech.

Take a look at our premarket coverage here.

Fifth Third Bancorp

  • The trade: Fifth Third Bancorp FITB Director Mitchell Feiger sold a total of 8,734 shares at an average price of $35.21. The insider received approximately $307.48,000 from the sale of those shares.
  • What’s happening: The company released weak quarterly earnings last month.
  • What Fifth Third Bancorp does: Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati.

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