US stock futures traded higher ahead of the much-awaited interest rate decision from the Federal Reserve. 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.
General Motors
- The Trade: General Motors Company (NYSE:GM) Executive Vice President Stephen Carlisle sold a total of 25,645 shares at an average price of $39.04. The insider received around $1 million from selling those shares.
- What’s Happening: GM recently posted upbeat quarterly earnings.
- What General Motors Does: General Motors Co. emerged from the bankruptcy of General Motors Corp. (old GM) in July 2009. GM has eight brands and operates under four segments: GM North America, GM International, Cruise, and GM Financial.
Expedia Group
- The Trade: Expedia Group, Inc. (NASDAQ:EXPE) Director Dara Khosrowshahi sold a total of 10,000 shares at an average price of $172.94. The insider received around $1.73 million from selling those shares.
- What’s Happening: Expedia Group recently reported Q1 financial results.
- What Expedia Group Does: Expedia is the world's largest online travel agency by bookings, offering services for lodging (75% of total 2021 sales), air tickets (3%), rental cars, cruises, in-destination, and other (15%), and advertising revenue (7%).
Also check this: 4 Stocks Under $3 Insiders Are Aggressively Buying
Centene
- The Trade: Centene Corporation (NYSE:CNC) EVP, Chief Admin. Officer Shannon Bagley sold a total of 8,000 shares at an average price of $80.99. The insider received around $647.92 thousand as a result of the transaction.
- What’s Happening: Centene recently reported a Q1 FY22 adjusted EPS of $1.83, compared to $1.63 a year ago, beating the consensus estimate of $1.68.
- What Centene Does: Centene is a managed-care organization focused on government-sponsored healthcare plans, including Medicaid, Medicare, and the individual exchanges.
Have a look at our premarket coverage here .
Snap
- The Trade: Snap Inc. (NYSE:SNAP) General Counsel Michael Osullivan sold a total of 12,500 shares at an average price of $29.38. The insider received around $367.22 thousand from selling those shares.
- What’s Happening: Snapchat parent Snap announced at the 2022 NewFronts on Tuesday several initiatives that are underway at the company.
- What Snap Does: Snap, which refers to itself as a camera company, has one of the most popular social networking apps, Snapchat, in developed regions such as North America and Europe.
