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.
The Trade: Snowflake Inc. (NYSE: SNOW) President Products Benoit Dageville disposed a total of 74865 shares at an average price of $302.99. The insider received $14,874,278.77 as a result of the transaction.
What’s Happening: Snowflake recently reported better-than-expected results for its fiscal year second quarter.
What Snowflake Does: Founded in 2012, Snowflake is a data lake, warehousing, and sharing company that came public in 2020.
What’s Happening: Autodesk recently reported Q2 earnings results and issued Q3 guidance.
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.
The Trade: Mondelez International, Inc. (NASDAQ: MDLZ) Director Peter May, Trian Fund Management Lp sold a total of 479000 shares at an average price of $62.01. The insider received $29,700,504.78 as a result of the transaction.
What’s Happening: Missfresh recently said it has partnered with Mondelez International to debut OREO’s new range of sugar-free sandwich cookies – Oreo Zero across China.
What Mondelez Does: Mondelez has operated as an independent organization since its split from the former Kraft Foods North American grocery business in October 2012.
The Trade: NXP Semiconductors N.V. (NASDAQ: NXPI) CEO and President Kurt Sievers sold a total of 25878 shares at an average price of $225.00. The insider received $5,822,550.00 from selling those shares.
What’s Happening: NXP Semiconductors recently reported an interim dividend of $0.5625 per share and also announced approval of a $2 billion expansion in buybacks.
What NXP Semiconductors Does: NXP Semiconductors is a leading supplier of high-performance mixed-signal products.
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