The Bank of Japan maintained its key short-term interest rate at -0.1% during its recent meeting. 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.
Alphabet
- The Trade: Alphabet Inc. (NASDAQ:GOOG) Director Larry Page sold a total of 6,572 shares at an average price of $2,646.00. The insider received around $17.39 million from selling those shares.
- What’s Happening: Google Cloud and VMware reported expansion of partnership 'to help customers accelerate app modernization and cloud transformation.'
- What Alphabet Does: Alphabet Inc is a holding company, with Google, the Internet media giant, as a wholly owned subsidiary. Google generates 99% of Alphabet revenue, of which more than 85% is from online ads.
Target
- The Trade: Target Corporation (NYSE:TGT) Executive Officer Brian Cornell sold a total of 30,000 shares at an average price of $216.35. The insider received around $6.49 million from selling those shares.
- What’s Happening: A Target location in Vista, California is the retailer's first net zero energy store, the company announced Thursday.
- What Target Does: With 1,926 stores (as of the end of fiscal 2021), Target is a leading American general merchandise retailer, offering a variety of products across several categories, including beauty and household essentials (26% of fiscal 2021 sales), food and beverage (19%), home furnishings and décor (19%), hardlines (18%), and apparel and accessories (17%).
Also check this: 4 Penny Stocks Insiders Are Buying: MannKind, Crexendo And More
Broadcom
- The Trade: Broadcom Inc. (NASDAQ:AVGO) President of Broadcom SW Group Thomas H Krause sold a total of 27,000 shares at an average price of $588.93. The insider received around $15.9 million as a result of the transaction.
- What’s Happening: Broadcom recently reported better-than-expected Q1 adjusted EPS and sales results.
- What Broadcom Does: Broadcom--the combined entity of Broadcom and Avago--boasts a highly diverse product portfolio across an array of end markets. Avago focused primarily on radio frequency filters and amplifiers used in high-end smartphones, such as the Apple iPhone and Samsung Galaxy devices, in addition to an assortment of solutions for wired infrastructure, enterprise storage, and industrial end markets.
Workday
- The Trade: Workday, Inc. (NASDAQ:WDAY) 10% owner David Duffield sold a total of 102,500 shares at an average price of $219.85. The insider received around $22.53 million from selling those shares.
- What’s Happening: Workday recently reported better-than-expected Q4 EPS and sales results.
- What Workday Does: Workday is a software company that offers human capital management, or HCM, financial management, and business planning solutions.
