The S&P 500 dropped around 1.5% 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: Starbucks Corporation SBUX Group President International Michael Aaron Conway sold a total of 15,320 shares at an average price of $99.14. The insider received around $1.52 million from selling those shares.
- What’s Happening: Starbucks recently reported better-than-expected Q4 EPS and sales results.
- What Starbucks Does: Starbucks is one of the most widely recognized restaurant brands in the world, operating nearly 34,000 stores across more than 80 countries as of the end of fiscal 2021.
- The Trade: Titan International, Inc. TWI Director Maurice M. Taylor Jr. sold a total of 100,000 shares at an average price of $15.32. The insider received around $1.53 million as a result of the transaction.
- What’s Happening: The company recently posted upbeat quarterly earnings.
- What Titan International Does: Titan International Inc is a manufacturer of wheels, tires, wheel and tire assemblies, and undercarriage systems and components for off-highway vehicles.
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- The Trade: Cisco Systems, Inc. CSCO Chair and CEO Charles Robbins sold a total of 115,868 shares at an average price of $48.64. The insider received around $5.64 million from selling those shares.
- What’s Happening: Cisco recently reported better-than-expected Q1 results.
- What Cisco Does: Cisco Systems is the largest provider of networking equipment in the world and one of the largest software companies in the world.
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