U.S stocks traded higher on Wednesday, with the Dow Jones gaining more than 200 points. 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.
Williams-Sonoma
- The Trade: Williams-Sonoma, Inc. (NYSE:WSM) EVP Chief Financial Officer Julie Whalen sold a total of 5,000 shares at an average price of $140.66. The insider received around $703.3 thousand from selling those shares.
- What’s Happening: Williams-Sonoma recently announced the resignation of CEO.
- What Williams-Sonoma Does: With a wide retail and direct-to-consumer presence, Williams-Sonoma is a leader in the $300 billion domestic home category, focused on expanding its exposure in the B2B, marketplace, and franchise areas.
Also check this: Airbnb Faces Several Price Target Cuts After Q2 Results, Shares Plunge
HP
- The Trade: HP Inc. (NYSE:HPQ) CFO Marie Myers sold a total of 4,500 shares at an average price of $33.05. The insider received around $148.72 thousand as a result of the transaction.
- What’s Happening: HP announced extension of the expiration date for exchange offer for Plantronics notes.
- What HP Does: HP Incorporated is a leading provider of computers, printers, and printer supplies. The company's mains segments are personal systems and printing.
Have a look at our premarket coverage here .
Electronic Arts
- The Trade: Electronic Arts Inc. (NASDAQ:EA) Chief Experience Officer Chris Bruzzo sold a total of 2,000 shares at an average price of $130.82. The insider received around $261.64 thousand from selling those shares.
- What’s Happening: Electronic Arts reported first-quarter revenue of $1.767 billion, a 13.9% year-over-year increase.
- What Electronic Arts Does: EA is one of the world's largest third-party video game publishers and has transitioned from a console-based video game publisher to the one of the largest publishers on consoles, PC, and mobile.
Analog Devices
- The Trade: Analog Devices, Inc. (NASDAQ:ADI) Director Tunc Doluca sold a total of 7,000 shares at an average price of $170.34. The insider received around $1.19 million from selling those shares.
- What’s Happening: Analog Devices is expected to release financial results for the third quarter fiscal year on Wednesday, August 17, 2022.
- What Analog Devices Does: Analog Devices is a leading analog, mixed-signal, and digital signal processing chipmaker.
