Adobe, Costco And 2 Other Stocks Insiders Are Selling

Adobe, Costco And 2 Other Stocks Insiders Are Selling


US crude oil futures traded lower this morning on Thursday. 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.

Costco Wholesale

  • The Trade: Costco Wholesale Corporation COST Executive VP and CFO Richard Galanti sold a total of 1,500 shares at an average price of $477.65. The insider received around $716.47 thousand from selling those shares.
  • What’s Happening: Costco Wholesale recently reported a 10.1% increase in net sales for the month of September 2022 to $21.46 billion.
  • What Costco Wholesale Does: The leading warehouse club, Costco has 838 stores worldwide (at the end of fiscal 2022), with most sales derived in the United States (73%) and Canada (14%).

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Adobe

  • The Trade: Adobe Inc. ADBE Director John Warnock sold a total of 17,000 shares at an average price of $319.60. The insider received around $5.43 million as a result of the transaction.
  • What’s Happening: Adobe recently reaffirmed its current fourth quarter fiscal year 2022 financial targets and provided preliminary financial targets for fiscal year 2023.
  • What Adobe Does: Adobe provides content creation, document management, and digital marketing and advertising software and services to creative professionals and marketers for creating, managing, delivering, measuring, optimizing and engaging with compelling content multiple operating systems, devices and media.

Have a look at our premarket coverage here .

Dropbox

  • The Trade: Dropbox, Inc. DBX President Timothy Young sold a total of 15,000 shares at an average price of $21.51. The insider received around $322.65 thousand from selling those shares.
  • What’s Happening: Keybanc, last month, initiated coverage on Dropbox with an Overweight rating and announced a price target of $30.
  • What Dropbox Does: Dropbox is a leading provider of cloud-storage and content collaboration tools with an emphasis on individuals and SMB.

PriceSmart

  • The Trade: PriceSmart, Inc. PSMT Director Robert E Price sold a total of 20,000 shares at an average price of $63.22. The insider received around $1.26 million from selling those shares.
  • What’s Happening: PriceSmart is expected to release financial results for the fourth quarter of fiscal year 2022 on Monday, October 31, 2022.
  • What PriceSmart Does: Pricesmart Inc is a company principally engaged in operating U.S.-style membership shopping warehouse clubs that offer consumer goods at low prices.

Posted In: Insider SellingNewsSmall CapInsider TradesMarketsTrading Ideas