Costco Wholesale, S&P Global And 2 Other Stocks Insiders Are Selling

The S&P 500 closed higher 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.

S&P Global

• The Trade: S&P Global Inc. SPGI EVP, Chief Purpose Officer Dimitra Manis sold a total of 2,021 shares at an average price of $386.27. The insider received around $780.65 thousand from selling those shares.
• What’s Happening: B of A Securities initiated coverage on S&P Global with a Buy rating and announced a price target of $465.
• What S&P Global Does: S&P Global provides data and benchmarks to capital and commodity market participants. In 2021 and excluding IHS Markit, S&P Ratings was over 45% of the firm's revenue and over 55% of the firm's operating income.

Have a look at our premarket coverage here

Autodesk

• The Trade: Autodesk, Inc. ADSK EVP, Chief People Officer Rebecca Pearce sold a total of 1,252 shares at an average price of $220.00. The insider received around $275.44 thousand from selling those shares.
• What’s Happening: The company posted in-line earnings for its first quarter.
• What Autodesk Does: Founded in 1982, Autodesk is an application software company that serves industries in architecture, engineering, and construction; product design and manufacturing; and media and entertainment.

NVIDIA

• The Trade: NVIDIA Corporation NVDA Director A. Brooke Seawell sold a total of 860 shares at an average price of $424.69. The insider received around $365.23 thousand from selling those shares.
• What’s Happening: Nvidia bagged significant orders from major Chinese internet companies with cloud computing businesses following the 2023 Spring Festival.
• What NVIDIA Does: Nvidia is the top designer of discrete graphics processing units that enhance the experience on computing platforms. The firm's chips are used in a variety of end markets, including PC gaming and data centers.

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 $522.03. The insider received around $783.04 thousand from selling those shares.
• What’s Happening: Costco reported May 2023 net sales of $18.45 billion, up from $18.23 billion year-over-year.
• What Costco Wholesale Does: As 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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