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.
Coinbase Global
The Trade: Coinbase Global, Inc. (NASDAQ: COIN) Director Frederick Ernest Ehrsam III disposed a total of 42160 shares at an average price of $268.90. The insider received $11,336,841.60 as a result of the transaction.
What’s Happening: Coinbase recently apologized for falsely advertising USD Coin once again and promised that it will become fully backed by cash and Treasury bills issued by the U.S. Treasury.
What Coinbase Global Does: Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States. The company intends to be the safe and regulation-compliant point of entry for retail investors and institutions into the cryptocurrency economy.
Palantir Technologies
The Trade: Palantir Technologies Inc. (NYSE: PLTR) Director Spencer Rascoff sold a total of 100000 shares at an average price of $26.19. The insider received $2,618,620.00 from selling those shares.
What’s Happening: Herndon, Virginia-based BlackSky Holdings recently said Palantir has committed to making an equity investment in it.
What Palantir Technologies Does: Palantir Technologies, founded in 2003, builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations.
Fresh Del Monte Produce
The Trade: Fresh Del Monte Produce Inc. (NYSE: FDP) Chairman and CEO Mohammad Abu-Ghazaleh sold a total of 37728 shares at an average price of $32.62. The insider received $1,230,590.44 as a result of the transaction.
What’s Happening: Fresh Del Monte Produce, last month, reported second-quarter FY21 net sales growth of 4.5% year-on-year, to $1.14 billion, versus the analyst consensus of $1.15 billion.
What Fresh Del Monte Produce Does: Fresh Del Monte Produce Inc produces, markets, and distributes fresh fruit and vegetables internationally.
Walmart
The Trade: Walmart Inc. (NYSE: WMT) Director Robson Walton sold a total of 823255 shares at an average price of $148.45. The insider received $112,031,363.19 from selling those shares.
What’s Happening: Walmart recently said it will add 20,000 positions across more than 250 transportation offices and distribution and fulfillment centers, at an average wage of $20.37 per hour.
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. Its home market accounted for 78% of sales in fiscal 2021, with Mexico and Central America (6%) and Canada (4%) its largest external markets.
Procter & Gamble
The Trade: The Procter & Gamble Company (NYSE: PG) Director Nelson Peltz, Trian Fund Management Lp sold a total of 207000 shares at an average price of $142.43. The insider received $29,482,185.78 as a result of the transaction.
What’s Happening: Procter & Gamble, in July, reported better-than-expected Q4 EPS and sales results.
What Procter & Gamble Does: Since its founding in 1837, Procter & Gamble has become one of the world's largest consumer product manufacturers, generating more than $75 billion in annual sales.
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