US crude oil futures traded lower on Wednesday. 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.
SentinelOne
- The Trade: SentinelOne, Inc. (NYSE:S) 10% owner Third Point Llc sold a total of 650,000 shares at an average price of $21.38. The insider received around $13.9 million from selling those shares.
- What’s Happening: The company recently posted upbeat quarterly results.
- What SentinelOne Does: SentinelOne Inc is an autonomous cybersecurity platform. The company's cybersecurity solutions encompass AI-powered prevention, detection, response, and hunting across endpoints, containers, cloud workloads, and IoT devices in a single autonomous XDR platform.
Also check this: Insiders Buy More Than $21M Of 3 Penny Stocks
Chico's FAS
- The Trade: Chico's FAS, Inc. (NYSE:CHS) Director, Executive Chair of the Board Bonnie Brooks sold a total of 100,000 shares at an average price of $5.57. The insider received around $557 thousand as a result of the transaction.
- What’s Happening: Chico's FAS recently reported first-quarter FY22 sales growth of 39.4% year-on-year to $540.92 million, beating the consensus of $490.10 million.
- What Chico's FAS Does: Chico's FAS Inc is an apparel retailer with a portfolio of private-label brands that sell women's clothing and accessories. Brands include Chico's, White House/Black Market, and Soma Intimates.
Kellogg Company
- The Trade: Kellogg Company (NYSE:K) 10% owner Kellogg W K Foundation sold a total of 146,153 shares at an average price of $70.61. The insider received around $10.32 million from selling those shares.
- What’s Happening: Kellogg recently announced plans to separate into three independent companies.
- What Kellogg Does: Founded in 1906, Kellogg is a leading global manufacturer and marketer of cereal, cookies, crackers, and other packaged foods.
