U.S. stock futures traded lower this morning on Monday. 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: ITT Inc. ITT SVP, General Counsel Mary Elizabeth Gustafsson sold a total of 3,206 shares at an average price of $81.95. The insider received around $262.73 thousand from selling those shares.
- What’s Happening: ITT recently said it acquired Clippard Instrument Laboratories' product lines of durable, low maintenance, and cost-competitive interchangeable pneumatic cylinders.
- What ITT Does: ITT is a diversified industrial conglomerate with nearly $3 billion in sales. After the spinoffs of Xylem and Exelis in 2011, the company's products primarily include brake pads, shock absorbers, pumps, valves, connectors, and switches.
- The Trade: The Trade Desk, Inc. TTD CFO Blake Jeffrey Grayson sold a total of 3,676 shares at an average price of $72.50. The insider received around $266.51 thousand as a result of the transaction.
- What’s Happening: The Trade Desk recently reported better-than-expected Q2 sales results and issued Q3 sales guidance above estimates.
- What Trade Desk Does: The Trade Desk Inc is engaged in providing a technology platform for ad buyers.
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- The Trade: The Goldman Sachs Group, Inc. GS Global Treasurer Philip Berlinski sold a total of 8,000 shares at an average price of $348.62. The insider received around $2.79 million from selling those shares.
- What’s Happening: Goldman Sachs recently reported second-quarter FY22 revenue of $11.86 billion, down 23% year-on-year, squashing the consensus of $10.96 billion.
- What Goldman Sachs Does: Goldman Sachs is a leading global investment banking firm whose activities are organized into investment banking (20% of net revenue), global markets (45%), asset management (20%), and consumer and wealth management (15%) segments.
- The Trade: O'Reilly Automotive, Inc. ORLY Director, EV Chairman of the Board David Oreilly
- sold a total of 15,000 shares at an average price of $723.11. The insider received around $10.85 million from selling those shares.
- What’s Happening: O'Reilly Automotive recently reported worse-than-expected Q2 EPS and sales results.
- What O'Reilly Automotive Does: O'Reilly Automotive is one of the largest sellers of aftermarket automotive parts, tools, and accessories, serving professional and DIY customers (41% and 59% of 2021 sales, respectively).
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