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.
Janus International
The Trade: Janus International Group, Inc. (NYSE: JBI) Director Roger Fradin disposed a total of 366800 shares at an average price of $14.59. The insider received $5,350,988.00 as a result of the transaction.
What’s Happening: Keybanc, on Friday, initiated coverage on Janus Intl with an Overweight rating and announced price target of $18.
What Janus International Does: Janus International Group Inc is a manufacturer and supplier of turnkey solutions for self-storage, commercial and industrial buildings, providing products that include roll-up and swing doors, hallway systems, relocatable storage units, and technologies for automating facility and door operation.
Walmart
The Trade: Walmart Inc. (NYSE: WMT) 10% owner Jim Walton sold a total of 1216000 shares at an average price of $150.26. The insider received $182,713,564.12 from selling those shares.
What’s Happening: Walmart, last week, reported second-quarter FY22 sales growth of 2.4% year-on-year, to $141 billion, beating the analyst consensus of $136.88 billion.
What Walmart Does: America's largest retailer by sales, Walmart operated over 11,400 stores under 54 banners at the end of fiscal 2021, selling a variety of general merchandise and grocery items.
Buckle
The Trade: The Buckle, Inc. (NYSE: BKE) President and CEO Dennis Nelson sold a total of 25000 shares at an average price of $43.05. The insider received $1,076,291.00 as a result of the transaction.
What’s Happening: Buckle, on Friday, reported better-than-expected results for its second quarter.
What Buckle Does: Buckle is a retailer of casual apparel, footwear, and accessories. The company retails medium to better-priced casual apparel, footwear, and accessories for fashion-conscious young men and women.
Moderna
The Trade: Moderna, Inc. (NASDAQ: MRNA) CEO Stephane Bancel sold a total of 23000 shares at an average price of $395.42. The insider received $7,513,000.00 from selling those shares.
What’s Happening: The U.S. health officials are reviewing reports that Moderna’s COVID-19 vaccine may be linked to a higher risk of a rare heart condition, Washington Post reported, citing people familiar with the matter.
What Moderna Does: Moderna is a commercial-stage biotech that was founded in 2010 and had its initial public offering in December 2018. The firm's mRNA technology was rapidly validated with its COVID-19 vaccine, which was authorized in the United States in December 2020.
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