DoorDash, Wynn Resorts And 2 Other Stocks Insiders Are Selling

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The Nasdaq 100 closed higher by around 0.3% on Tuesday. Investors, meanwhile, focused on some notable insider trades.

When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. 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.

Wynn Resorts

  • The Trade: Wynn Resorts, Limited WYNN Director Betsy S Atkins sold a total of 2,446 shares at an average price of $94.39. The insider received around $230,878 from selling those shares.
  • What's Happening: On May 23, Argus Research analyst John Staszak upgraded Wynn Resorts from Hold to Buy and announced a $110 price target.
  • What Wynn Resorts Does: Wynn Resorts operates luxury casinos and resorts. The company was founded in 2002 by Steve Wynn, the former CEO.

Have a look at our premarket coverage here

Morningstar

  • The Trade: Morningstar, Inc. MORN Executive Chairman Joseph D Mansueto sold a total of 6,197 shares at an average price of $297.28. The insider received around $1.84 million from selling those shares.
  • What's Happening: Morningstar said Rod Diefendorf will be appointed the next leader of PitchBook as President and Chief Operating Officer.
  • What Morningstar Does: Morningstar Inc is a provider of independent investment research to financial advisers, asset managers, and investors.

DoorDash

  • The Trade: DoorDash, Inc. DASH General Counsel and Secretary Tia Sherringham sold a total of 11,740 shares at an average price of $110.46. The insider received around $1.3 million from selling those shares.
  • What's Happening: On May 1, DoorDash reported quarterly losses of 6 cents per share which missed the analyst consensus estimate of losses of 4 cents by 50%.
  • What DoorDash Does: Founded in 2013 and headquartered in San Francisco, DoorDash is an online food order demand aggregator. Consumers can use its app to order food on-demand for pickup or delivery from merchants mainly in the US.

Hanover Insurance Group

  • The Trade: The Hanover Insurance Group, Inc. THG Director Jane D Carlin sold a total of 1,119 shares at an average price of $132.25. The insider received around $147,987 from selling those shares.
  • What's Happening: On May 1, Hanover Insurance posted upbeat quarterly earnings.
  • What Hanover Insurance Group Does: The Hanover Insurance Group Inc is a holding company whose primary business is offering property and casualty insurance products and services.

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