Insider moves are sending mixed signals across the tech sector

Insider trading activity is sending mixed signals across the tech sector.

Broadcom has seen notable insider selling after a volatile stretch for the stock, while Adobe drew a high-profile insider purchase from Eli Lilly CEO David Ricks.

Netskope, meanwhile, has attracted a wave of insider buying after a sharp post-earnings sell-off.

Broadcom Insider Drops Position 20%, But Sales Stay Contained

Semiconductor giant Broadcom (NASDAQ: AVGO) has experienced big-time volatility in 2026. Broadcom shares were up as much as 39% on the year going into the firm's latest earnings report. However, overly high expectations ultimately set investors up for disappointment. Although Broadcom posted a very strong report, shares tanked around 20% in two days. Broadcom shares have traded mostly sideways since then, with the stock having a total return of around 10% on the year.

Amid this, Broadcom has also seen some notable insider selling in Q3. Total sales are so far at $20 million during the quarter. Although this is way down from peak sales of $250 million in Q4 2025, it is also nearly equal to the $22 million in sales the firm saw in all of Q2. Additionally, none of these Q3 sales have come under 10b5-1 plans, indicating that they are discretionary in nature.

Chief Legal and Corporate Affairs Officer Mark Brazael is the main Broadcom seller this quarter. Brazael decreased his Broadcom position by 50,000 shares to just under 195,000, a substantial 20% drop. This is a slightly negative sign for Broadcom stock, given the size of this discretionary transaction. Still, Brazael is the only individual who has engaged in large-scale sales recently, making this isolated indicator not particularly worrisome.

Netskope's Insider Buys Soar After Post-Earnings Plunge

Next up is Netskope (NASDAQ: NTSK), a mid-cap cybersecurity company. It competes in the Secure Access Service Edge (SASE) part of the industry, helping secure employee devices and prevent sensitive data from being improperly shared. The company notes that its NewEdge Network provides significant performance advantages. By positioning its data centers as close to end users as possible, it can minimize latency, securing devices without damaging productivity. The stock has dropped more than 20% in 2026. This includes a 19% single-day drop after its latest earnings report, where the company's growth rate notably decelerated from over 32% to less than 28% in one quarter.

However, three insiders are piling into this name after its recent plummet. This includes two investment funds, ICONIQ Strategic Partners VIII Holdings, L.P., and Lightspeed Venture Partners IX, L.P. Overall, Netskope's Q3 insider purchases have already hit $22 million, while sales are at just $2.8 million.

For a relatively small company like Netskope, insider sales of this size in a short period of time are somewhat rare. In this context, Netskope's recent insider moves provide a solidly positive signal for the stock. Netskope shares are still trading fairly close to the level these insiders purchased at, up less than 10% since the latest buy at $12.42.

Top Healthcare CEO Buys Adobe

Creative design company Adobe (NASDAQ: ADBE) has been one of the world's hardest-hit names from the general software sell-off, driven by AI disruption fears. Overall, the stock has declined by more than 30% in 2026.

This comes even though Adobe has maintained strong revenue growth for several years. In the last 12 quarters, sales growth has come in at 10% or higher. Adobe grew its revenue by just under 13% in its latest quarter, which was considerably ahead of expectations and boosted both its full-year revenue and earnings guidance. Despite this, the market appears unconvinced that Adobe can fight off disruption in the long term.

One key Adobe insider evidently sees value in the stock, purchasing $1.945 million worth of Adobe shares. That individual is David Ricks, an Adobe Board member, but much better known for being the CEO of Eli Lilly and Company (NYSE: LLY). As the leader of the world's most valuable healthcare company, Ricks clearly has a huge degree of business acumen, making his buy particularly noteworthy. This is even more true considering that Ricks' buy resulted in him more than doubling the size of his Adobe position. However, it is important to note that Adobe shares have recovered a bit more than 15% versus Ricks' purchase price near $194. Overall, Ricks' buy is still a bullish indicator for Adobe, especially if shares were to retreat to $200 or less.

Analyst Eye 20% or More Gains Across Broadcom, Adobe, and Netskope

Despite different insider signals, Wall Street analysts are showing a high degree of confidence across all three names. The MarketBeat consensus price target on Broadcom sits near $493, implying well over 20% upside. Meanwhile, analysts are forecasting nearly 30% upside in Netskope, while Adobe's forecasts suggest upside in the 20% range.

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