Insiders Selling J. M. Smucker, C.H. Robinson Worldwide And This EV Stock

Insiders Selling J. M. Smucker, C.H. Robinson Worldwide And This EV Stock

U.S. stock futures traded higher this morning after recording gains 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.

Nikola

  • The Trade: Nikola Corporation NKLA Director, President, Nikola Corporation Michael Lohscheller sold a total of 19,973 shares at an average price of $5.09. The insider received around $101.58 thousand from selling those shares.
  • What’s Happening: Nikola recently filed a prospectus related to the issuance and sale of common stock from time to time up to $400 million.
  • What Nikola Does: Nikola Corp is a designer and manufacturer of battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen fueling station infrastructure.

Also check this: US Stock Futures Surge; Fed Speakers In Focus

J. M. Smucker Company

  • The Trade: The J. M. Smucker Company SJM Chief People & Admin Officer Jill Penrose sold a total of 4,543 shares at an average price of $140.83. The insider received around $639.79 thousand as a result of the transaction.
  • What’s Happening: J.M. Smucker recently reported better-than-expected Q1 results and raised FY23 guidance.
  • What J. M. Smucker Does: J.M. Smucker is a packaged food company that primarily operates in the U.S. retail channel (87% of fiscal 2022 revenue), but also in U.S. food-service (7%), and international (6%).

Have a look at our premarket coverage here .

C.H. Robinson Worldwide

  • The Trade: C.H. Robinson Worldwide, Inc. CHRW CFO Michael P. Zechmeister sold a total of 6,883 shares at an average price of $114.55. The insider received around $788.44 thousand from selling those shares.
  • What’s Happening: C.H. Robinson Worldwide, during late July, reported better-than-expected Q2 EPS and sales results.
  • What C.H. Robinson Worldwide Does: C.H. Robinson is a top-tier non-asset-based third-party logistics provider with a significant focus on domestic freight brokerage (57% of 2021 net revenue), which reflects mostly truck brokerage but also rail intermodal.

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