US stock futures traded slightly higher this morning on Monday after recording sharp gains in the previous session. 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) President and CEO Douglas McMillon sold a total of 9,708 shares at an average price of $122.13. The insider received around $1.19 million from selling those shares.
- What’s Happening: Roku recently announced a partnership with Walmart Inc.
- What Walmart Does: America's largest retailer by sales, Walmart operated over 10,500 stores under 46 banners at the end of fiscal 2022, selling a variety of general merchandise and grocery items.
Also check this: U.S. Durable Goods Orders And Other Macro Issues For Monday
Moderna
- The Trade: Moderna, Inc. (NASDAQ:MRNA) Director Noubar B. Afeyan sold a total of 10,000 shares at an average price of $127.69. The insider received around $1.28 million as a result of the transaction.
- What’s Happening: Moderna recently released data on its bivalent COVID booster candidate.
- What Moderna Does: Moderna is a commercial-stage biotech that was founded in 2010 and had its initial public offering in December 2018.
Have a look at our premarket coverage here .
Synopsys
- The Trade: Synopsys, Inc. (NASDAQ:SNPS) CFO Trac Pham sold a total of 18,393 shares at an average price of $307.03. The insider received around $5.65 million from selling those shares.
- What’s Happening: Synopsys, last month, initiated $200 million accelerated share repurchase agreement.
- What Synopsys Does: Synopsys is a provider of electronic design automation (EDA) software, intellectual property (IP), and software integrity (SI) products.
- The Trade: Pinterest, Inc. (NASDAQ:PINS) SVP, Products Naveen Gavini sold a total of 5,491 shares at an average price of $20. The insider received around $109.82 thousand from selling those shares.
- What’s Happening: A U.S. judge upheld a lawsuit filed by Christine Martinez against Pinterest in September, Bloomberg reported.
- What Pinterest Does: Pinterest is an online product and idea discovery platform that helps users gather ideas on everything from recipes to cook to destinations to travel to.
