U.S. crude oil futures jumped more than 7% on Thursday after Russia’s President Vladimir Putin announced that the country’s armed forces would carry out a “special military operation” in Ukraine. 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.
Walmart
- The Trade: Walmart Inc. (NYSE:WMT) Executive Vice President John Furner disposed a total of around 15,100 shares at an average price of $138.07. The insider received around $2.08 million as a result of the transaction.
- What’s Happening: Walmart recently reported better-than-expected Q4 EPS and sales results.
- 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.
Consolidated Edison
- The Trade: Consolidated Edison, Inc. (NYSE:ED) Director John McAvoy sold a total of 74,715 shares at an average price of $84.69. The insider received around $6.33 million from selling those shares.
- What’s Happening: The company recently posted upbeat quarterly results.
- What Consolidated Edison Does: Con Ed is a holding company for Consolidated Edison of New York, or CECONY, and Orange & Rockland, or O&R.
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Morningstar
- The Trade: Morningstar, Inc. (NASDAQ:MORN) Executive Chairman Joseph Mansueto sold a total of 14,364 shares at an average price of $273.62. The insider received around $3.93 million as a result of the transaction.
- What’s Happening: Morningstar is expected to report its fourth-quarter financial results after the market closes on Thursday, Feb. 24, 2022.
- What Morningstar Does: Morningstar is a provider of independent investment research to financial advisers, asset managers, and investors. The company focuses its operations on two core sectors: data and research.
Synopsys
- The Trade: Synopsys, Inc. (NASDAQ:SNPS) Co-CEO Chi-Foon Chan sold a total of 12,570 shares at an average price of $289.25. The insider received around $3.64 million from selling those shares.
- What’s Happening: The company recently posted upbeat Q1 earnings.
- What Synopsys Does: Synopsys was founded in December 1986 (called Optimal Solutions until 1987) and is a market leader in electronic design automation software.
