Gold futures traded over 1% higher on Friday. 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.

Atlasian

• The trade: Atlassian Corporation TEAM Co-CEO, Co-Founder Farquhar Scott sold a total of 8,614 shares at an average price of $190.53. The insider received around $1.64 million from the sale of those shares.
• What’s happening: Morgan Stanley recently kept Atlassian overweight and lowered its price target to $375 from $430.
• What Atlassian does: Atlassian makes software that helps teams work together more efficiently and effectively. The company offers project planning and management software, collaboration tools and IT helpdesk solutions.

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noble corporation

• The trade: Noble Corporation Plc NO 10% owner Pacific Investment Management Co LLC sold a total of 50,000 shares at an average price of $32.86. The insider received approximately $1.64 million through the transaction.
• What’s happening: Noble Corporation is expected to report third quarter 2022 financial results on November 2, 2022.
• What Noble Corporation does: Noble Corp PLC is a leading offshore drilling company serving the oil and gas industry.

Eli Lilly and Co

• The trade: Eli Lilly and Co LLY 10% owner Lilly Endowment Inc sold a total of 3,547 shares at an average price of $335.48. The insider received around $1.19 million from the sale of those shares.
• What’s happening: Eli Lilly and co recently…