Walmart, Amazon And 2 Other Stocks Insiders Are Selling

The S&P 500 snapped a four-session losing streak, recording gains 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.

Henry Schein

• The Trade: Henry Schein, Inc. HSIC Director Bradley T Sheares sold a total of 11,243 shares at an average price of $82.07. The insider received around $922.71 thousand from selling those shares.
• What’s Happening: Henry Schein posted in-line quarterly earnings.
• What Henry Schein Does: Henry Schein is the largest wholesaler of dental and medical products to office-based practitioners.

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Microchip Technology

• The Trade: Microchip Technology Inc MCHP Senior VP and CFO Eric James Bjornholt sold a total of 2,777 shares at an average price of $81.58. The insider received around $226.55 thousand from selling those shares.
• What’s Happening: Microchip announced plans to invest $880 million to expand its silicon carbide and silicon capacity in Colorado.
• What Microchip Technology Does: Microchip Technology became an independent company in 1989 when it was spun off from General Instrument.

Walmart

• The Trade: Walmart Inc WMT President and CEO Douglas McMillon sold a total of 9,708 shares at an average price of $142.37. The insider received around $1.38 million from selling those shares.
• What’s Happening: Walmart reported fourth-quarter FY23 sales growth of 7.3% year-on-year to $164 billion, beating the consensus of $159.8 billion.
• What Walmart Does: America's largest retailer by sales, Walmart operated over 10,500 stores under 46 banners at the end of fiscal 2022, selling a variety of general merchandise and grocery items.

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Amazon

• The Trade: Amazon.com, Inc. AMZN CEO Worldwide Amazon Stores Douglas J Herrington sold a total of 7,456 shares at an average price of $94.90. The insider received around $707.54 thousand from selling those shares.
• What’s Happening: Japanese trading house Itochu agreed to supply wind-generated power solar energy to Amazon.Com in Japan via Clean Energy Connect Co, Ltd.
• What Amazon Does: Amazon is a leading online retailer and one of the highest-grossing e-commerce aggregators, with $386 billion in net sales and approximately $578 billion in estimated physical/digital online gross merchandise volume in 2021.