Datadog And 2 Other Stocks Insiders Are Selling

U.S stocks traded lower on Thursday, with the Dow Jones dropping more than 100 points. 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.

Mettler-Toledo International

• The Trade: Mettler-Toledo International Inc. MTD Director Olivier Filliol sold a total of 8,000 shares at an average price of $1,344.92. The insider received around $10.76 million from selling those shares.
• What’s Happening: Mettler-Toledo recently reported better-than-expected Q2 adjusted EPS and sales results.
• What Mettler-Toledo International Does: Mettler-Toledo International supplies weighing and precision instruments to customers in the life sciences (54% of 2020 sales), industrial (40%), and food retail industries (6%).

Also check this: Dow Drops Over 100 Points; U.S. Trade Deficit Shrinks To This Level In June

Datadog

• The Trade: Datadog, Inc. DDOG General Counsel/Corp Secy Kerry Acocella sold a total of 1,950 shares at an average price of $100.00. The insider received around $195 thousand as a result of the transaction.
• What’s Happening: Datadog reported second-quarter FY22 revenue growth of 74% year-on-year to $406.1 million, beating the consensus of $379.4 million.
• What Datadog Does: Datadog is a cloud-native company that focuses on analyzing machine data.

Have a look at our premarket coverage here .

Calix

• The Trade: Calix, Inc. CALX Director Kira Makagon sold a total of 30,000 shares at an average price of $57.71. The insider received around $1.73 million from selling those shares.
• What’s Happening: Calix recently reported better-than-expected Q2 results and issued Q3 sales guidance above estimates.
• What Calix Does: Calix cloud and software platforms enable service providers of all types and sizes to innovate and transform.