U.S. stock futures traded higher this morning on Thursday ahead of the PPI data for July. 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: Beyond Meat, Inc. BYND Chief Brand Officer Beth Moskowitz sold a total of 25,573 shares at an average price of $39.95. The insider received around $1.02 million from selling those shares.
- What’s Happening: Beyond Meat recently reported worse-than-expected Q2 EPS and sales results and lowered its FY22 guidance.
- What Beyond Meat Does: Beyond Meat is a provider of plant-based meats, such as burgers, sausage, ground beef, and chicken.
- The Trade: Williams-Sonoma, Inc. WSM President and CEO Laura Alber sold a total of 40,498 shares at an average price of $151.94. The insider received around $6.08 million as a result of the transaction.
- What’s Happening: Williams-Sonoma recently announced the resignation of CEO.
- What Williams-Sonoma Does: With a wide retail and direct-to-consumer presence, Williams-Sonoma is a leader in the $300 billion domestic home category, focused on expanding its exposure in the B2B, marketplace, and franchise areas.
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- The Trade: Robinhood Markets, Inc. HOOD CFO Jason Warnick sold a total of 20,000 shares at an average price of $10.67. The insider received around $213.41 thousand from selling those shares.
- What’s Happening: Robinhood recently disclosed in a filing that the U.S. Securities and Exchange Commission has been probing the company's compliance with short selling rules since October 2021.
- What Robinhood Does: Robinhood Markets Inc is creating a modern financial services platform.
- The Trade: The Andersons, Inc. ANDE Director Michael J Anderson sold a total of 2,374 shares at an average price of $38.86. The insider received around $92.26 thousand from selling those shares.
- What’s Happening: The Andersons recently reported better-than-expected Q2 EPS results.
- What Andersons Does: Andersons Inc is an agriculture company that conducts business in North America. Its operations are segmented into trade, ethanol, plant nutrient, and rail.
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