The Nasdaq Composite gained by over 300 points on Friday. 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 $141.18. The insider received around $1.37 million from selling those shares.
- What’s Happening: Popable and Walmart joined forces to help small business retailers get back on their feet after the pandemic.
- 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.
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Moderna
- The Trade: Moderna, Inc. (NASDAQ:MRNA) Director Noubar B. Afeyan sold a total of 10,000 shares at an average price of $137.25. The insider received around $1.37 million as a result of the transaction.
- What’s Happening: JP Morgan recently maintained Moderna with a Neutral and lowered the price target from $165 to $122.
- 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 .
PepsiCo
- The Trade: PepsiCo, Inc. (NASDAQ:PEP) SVP and Controller Marie Gallagher sold a total of 5,558 shares at an average price of $180.01. The insider received around $1 million from selling those shares.
- What’s Happening: PepsiCo recently reported better-than-expected Q3 results and raised 2022 guidance.
- What PepsiCo Does: PepsiCo is one of the largest food and beverage companies globally.
PG&E
- The Trade: PG&E Corporation (NYSE:PCG) 10% owner PG&E Fire Victim Trust sold a total of 35,000,000 shares at an average price of $14.77. The insider received around $516.95 million from selling those shares.
- What’s Happening: The company recently posted mixed quarterly results.
- What PG&E Does: PG&E is a holding company whose main subsidiary is Pacific Gas and Electric, a regulated utility operating in Central and Northern California that serves 5.3 million electricity customers and 4.6 million gas customers in 47 of the state's 58 counties.
