When insiders sell shares, it indicates their concern in the company’s prospects or that they view the stock as being overpriced. Either way, this signals an opportunity to go short on the stock. 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.
The Trade: Kellogg Company K 10% owner Kellogg W K Foundation Trust, Kellogg W K Foundation disposed a total of 83332 shares at an average price of $66.38. The insider received $5,531,878.16 as a result of the transaction.
What’s Happening: Kellogg recently reported second-quarter FY21 net sales growth of 2.6% year-on-year, to $3.55 billion, beating the analyst consensus of $3.41 billion.
What Kellogg Does: Founded in 1906, Kellogg is a leading global manufacturer and marketer of cereal, cookies, crackers, and other packaged foods.
The Trade: Interactive Brokers Group, Inc. IBKR Executive Vice President and Chief Information Officer Thomas Aj Frank sold a total of 36753 shares at an average price of $61.26. The insider received $2,251,649.09 from selling those shares.
What’s Happening: The company, last month, reported downbeat quarterly earnings.
What Interactive Brokers Does: Interactive Brokers Group Inc, or IB, conducts broker-dealer agency business and proprietary trading business worldwide.
The Trade: eBay Inc. EBAY Director Robert H. Swan sold a total of 40000 shares at an average price of $73.15. The insider received $2,925,884.00 as a result of the transaction.
What’s Happening: eBay recently reported mixed results for its second quarter.
What eBay Does: eBay operates one of the largest e-commerce marketplaces in the world, with $85 billion in 2020 gross merchandise volume, or GMV, rendering the firm the fifth-largest global e-commerce company.
The Trade: The Wendy's Company WEN Director Peter W May sold a total of 424690 shares at an average price of $23.92. The insider received $10,158,361.21 from selling those shares.
What’s Happening: Oppenheimer, last week, upgraded Wendy's from Perform to Outperform and announced a $29 price target.
What Wendy's Does: The Wendy's Co is a quick-service restaurant franchisor, operating restaurants under the brand name Wendy's.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
Rate collection and criteria: Click here for more information on rate collection and criteria.