US stock futures traded slightly lower this morning on Wednesday after recording sharp losses in the previous session. Investors, meanwhile, focused on some 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: Nasdaq, Inc. NDAQ Executive Vice President Jeremy Skule sold a total of 1,400 shares at an average price of $160.00. The insider received around $224 thousand from selling those shares.
- What’s Happening: Nasdaq recently announced plans to acquire Metrio, a privately-held provider of environmental, social and governance (ESG) data collection, analytics and reporting services based in Montreal.
- What Nasdaq Does: Founded in 1971, Nasdaq is primarily known for its equity exchange, but in addition to its market-services business (about 35% of sales), the company sells and distributes market data as well as offers Nasdaq-branded indexes to asset managers and investors through its information-services segment (30%).
Campbell Soup Company
- The Trade: Campbell Soup Company CPB Senior VP and Controller Stanley Polomski sold a total of 10,335 shares at an average price of $48.20. The insider received around $498.15 thousand as a result of the transaction.
- What’s Happening: Campbell Soup recently reported third-quarter FY22 sales growth of 7% year-on-year to $2.13 billion, beating the consensus of $2.05 billion.
- What Campbell Soup Does: With a history that dates back around 150 years, Campbell Soup is now a leading manufacturer and marketer of branded convenience food products, most notably soup.
Have a look at our premarket coverage here .
- The Trade: The Hershey Company HSY President, US Charles R Raup sold a total of 1,512 shares at an average price of $220.90. The insider received around $334 thousand from selling those shares.
- What’s Happening: The company’s shares have gained 13% since the start of the year.
- What Hershey Does: Hershey is a leading confectionery manufacturer in the U.S. (around a $25 billion market), controlling around 46% of the domestic chocolate space (per IRI).
- The Trade: GoPro, Inc. GPRO SVP, Global Sales, CM, RE Dean Jahnke sold a total of 14,089 shares at an average price of $6.12. The insider received around $86.25 thousand from selling those shares.
- What’s Happening: GoPro, last month, reported worse-than-expected Q1 sales results.
- What GoPro Does: GoPro is a United States-based company that is principally engaged in designing and providing cameras, mounts, drones and appliances.
© 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.