5 Stocks Insiders Are Selling

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.

Target

• The Trade: Target Corporation TGT Executive Officer Christina Hennington disposed a total of 5673 shares at an average price of $250.95. The insider received $1,047,214.35 as a result of the transaction.
• What’s Happening: Target recently reported third-quarter FY21 total revenue growth of 13.3% year-on-year, to $25.65 billion.
• What Target Does: With 1,897 stores (as of the end of fiscal 2020), Target is a leading American general merchandise retailer, offering a variety of products across several categories, including beauty and household essentials (26% of fiscal 2020 sales), food and beverage (20%), home furnishings and décor (20%), hardlines (18%), and apparel and accessories (16%).

Goodrich Petroleum

• The Trade: Goodrich Petroleum Corporation GDP Director Lsp Investment Advisors Llc sold a total of 1838510 shares at an average price of $23.00. The insider received $42,285,730.00 from selling those shares.
• What’s Happening: Paloma Partners announced plans to acquire Goodrich Petroleum for a total of approximately $480 million.
• What Goodrich Petroleum Does: Goodrich Petroleum Corp is an independent oil and gas producer in the United States. The company operates in the Tuscaloosa Marine Shale region, with minor operations in the Eagle Ford and Haynesville shales.

NVIDIA

• The Trade: NVIDIA Corporation NVDA Director Persis Drell sold a total of 10000 shares at an average price of $326.65. The insider received $3,266,500.00 as a result of the transaction.
• What’s Happening: NVIDIA recently reported strong Q3 results..
• What NVIDIA Does: Nvidia is the top designer of discrete graphics processing units that enhance the experience on computing platforms. The firm's chips are used in a variety of end markets, including high-end PCs for gaming, data centers, and automotive infotainment systems.

TJX Companies

• The Trade: The TJX Companies, Inc. TJX CEO and President Ernie Herrman sold a total of 48000 shares at an average price of $71.57. The insider received $3,435,120.60 from selling those shares. The insider also bought a total of 30000 shares.
• What’s Happening: TJX Companies, last week, reported better-than-expected Q3 EPS and sales results.
• What TJX Companies 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.

Kellogg

• The Trade: Kellogg Company K 10% owner Kellogg W K Foundation sold a total of 83334 shares at an average price of $62.70. The insider received $5,225,325.14 from selling those shares.
• What’s Happening: Kellogg, earlier during the month, reported better-than-expected Q3 results.
• What Kellogg Does: Founded in 1906, Kellogg is a leading global manufacturer and marketer of cereal, cookies, crackers, and other packaged foods.