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.
TJX
The Trade: The TJX Companies, Inc. TJX Executive Chairman Carol Meyrowitz disposed a total of 72546 shares at an average price of $74.07. The insider received $5,373,155.76 as a result of the transaction.
What’s Happening: TJX, last week, reported second-quarter FY22 net sales of $12.08 billion, beating the analyst consensus of $11.01 billion.
What TJX Does: TJX is a leading off-price retailer of apparel, home fashions, and other merchandise. It sells a variety of branded goods, opportunistically buying inventory from a network of over 21,000 vendors worldwide.
Lazard
The Trade: Lazard Ltd LAZ President Alexander F Stern sold a total of 90000 shares at an average price of $45.50. The insider received $4,095,000.00 from selling those shares.
What’s Happening: The company, last month, reported upbeat quarterly earnings.
What Lazard Does: Lazard has a storied history that can be traced back to 1848. The company's revenue is nearly equally split between financial advisory, such as acquisition and restructuring advisory, and asset management.
Fabrinet
The Trade: Fabrinet FN CEO Seamus Grady sold a total of 45450 shares at an average price of $101.78. The insider received $4,625,779.38 as a result of the transaction.
What’s Happening: Fabrinet, last week, reported better-than-expected Q4 results and issued Q1 guidance above estimates.
What Fabrinet Does: Fabrinet is a United States-based company that is principally engaged in providing outsourced manufacturing services to original equipment manufacturers.
Morningstar
The Trade: Morningstar, Inc. MORN Executive Chairman Joseph Mansueto sold a total of 16567 shares at an average price of $262.34. The insider received $4,346,129.53 from selling those shares.
What’s Happening: The company, last month, reported a rise in Q2 earnings and sales.
What Morningstar Does: Morningstar is a provider of independent investment research to financial advisers, asset managers, and investors.
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