Although US stock futures traded lower this morning on Monday, there were a few notable insider trades.
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: Target Corporation TGT Executive Officer Melissa Kremer sold a total of 8,602 shares at an average price of $250.00. The insider received around $2.15 million from selling those shares.
- What’s Happening: Gordon Haskett recently upgraded the stock from Hold to Buy and raised its price target on the stock from $255 to $300.
- What Target Does: With 1,926 stores (as of the end of fiscal 2021), Target is a leading American general merchandise retailer, offering a variety of products across several categories, including beauty and household essentials (26% of fiscal 2021 sales), food and beverage (19%), home furnishings and décor (19%), hardlines (18%), and apparel and accessories (17%).
- The Trade: Par Pacific Holdings, Inc. PARR 10% owner Zell Credit Opportunities Master Fund Lp sold a total of 783,609 shares at an average price of $15.59. The insider received around $12.21 million from selling those shares.
- What’s Happening: Par Pacific, last month, announced plans to suspend purchases of Russian crude oil.
- What Par Pacific Does: Par Pacific Holdings Inc is an oil and gas company that manages and maintains interests in energy and infrastructure businesses.
- The Trade: Talos Energy Inc. TALO Director Pierre Lapeyre Jr sold a total of 207,179 shares at an average price of $19.89. The insider received around $4.12 million as a result of the transaction.
- What’s Happening: Keybanc recently maintained Talos Energy with an Overweight and raised the price target from $21 to $22.
- What Talos Energy Does: Talos Energy Inc is an independent oil and gas company primarily involved in offshore exploration and production. The company has operations in the United States, Gulf of Mexico, and offshore Mexico.
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- The Trade: Sylvamo Corporation SLVM 10% owner International Paper Co sold a total of 4,132,000 shares at an average price of $34.75. The insider received around $143.59 million from selling those shares.
- What’s Happening: RBC Capital recently upgraded Sylvamo from Sector Perform to Outperform and raised the price target from $40 to $43.
- What Sylvamo Does: Sylvamo Corp is engaged in producing various uncoated freesheet for paper products such as cutsize and offset paper, as well as market pulp, aseptic and liquid packaging board and coated unbleached kraft papers.
- The Trade: Moderna, Inc. MRNA CEO Stephane Bancel sold a total of 23,000 shares at an average price of $149.98. The insider received around $2.85 million from selling those shares.
- What’s Happening: Moderna recently said a COVID-19 booster designed to target the Beta variant and the original coronavirus generated a better immune response against several virus variants, including Omicron.
- What Moderna Does: Moderna is a commercial-stage biotech that was founded in 2010 and had its initial public offering in December 2018.
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