Hershey, Levi Strauss And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed higher by around 0.2% on Wednesday. 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.

Electronic Arts

• The Trade: Electronic Arts Inc. EA Director, CEO and Board Chair Andrew Wilson sold a total of 2,500 shares at an average price of $137.44. The insider received around $343,607 from selling those shares.
• What’s Happening: Wolfe Research analyst Peter Supino recently initiated coverage on Electronic Arts with a Peer Perform rating.
• What Electronic Arts Does: EA is one of the world's largest third-party video game publishers and has transitioned from a console-based video game publisher to the one of the largest publishers on consoles, PC, and mobile.

Have a look at our premarket coverage here

Hershey Company

• The Trade: The Hershey Company HSY SVP, Chief Financial Officer Steven E Voskuil sold a total of 1,500 shares at an average price of $182.07. The insider received around $273,105 from selling those shares.
• What’s Happening: B of A Securities analyst Bryan Spillane recently downgraded Hershey from Buy to Neutral.
• What Hershey Does: Hershey is a leading confectionery manufacturer in the U.S. (around a $25 billion market), controlling around 45% of the domestic chocolate space (per IRI, as cited by Hershey).

Levi Strauss

• The Trade: Levi Strauss & Co LEVI EVP & Chief Operations Officer Elizabeth Oneill sold a total of 38,975 shares at an average price of $17.00. The insider received around $662,575 from selling those shares.
• What’s Happening: Levi Strauss said President and Chief Executive Officer Chip Bergh has decided to retire from the company, effective April 26, 2024.
• What Levi Strauss Does: Levi Strauss & Co is involved in designing, marketing, and selling products that include jeans, casual and dresses pants, tops, shorts, skirts, jackets, footwear, and related accessories directly or through third parties and licensees for men, women, and children under Levi's, Dockers, Signature by Levi Strauss & Co. and Denizen brands.

Teladoc Health

• The Trade: Teladoc Health, Inc. TDOC Chief Medical Officer Vidya Ramantangella sold a total of 27,310 shares at an average price of $22.00. The insider received around $600,820 from selling those shares.
• What’s Happening: Teladoc, during October, reported mixed third-quarter financial results.
• What Teladoc Health Does: Teladoc Health is a virtual health provider with a telehealth platform delivering 24-hour, on-demand healthcare via mobile devices, the internet, video, and phone.

Check This Out: Top 3 Real Estate Stocks You May Want To Dump in Q4