US crude oil futures traded lower on Monday. 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.
Johnson & Johnson
- The Trade: Johnson & Johnson (NYSE:JNJ) Exec VP, Chief HR Officer Peter Fasolo sold a total of 29,946 shares at an average price of $164.50. The insider received around $4.93 million from selling those shares.
- What’s Happening: Johnson & Johnson recently reported Q3 FY22 adjusted earnings of $2.55 per share, down 1.9% Y/Y and slightly ahead of the consensus of $2.52.
- What Johnson & Johnson Does: Johnson & Johnson is the world's largest and most diverse healthcare firm. Three divisions make up the firm: pharmaceutical, medical devices and diagnostics, and consumer.
Bank of New York Mellon
- The Trade: The Bank of New York Mellon Corporation (NYSE:BK) SEVP & General Counsel Kevin McCarthy sold a total of 20,000 shares at an average price of $39.37. The insider received around $787.31 thousand as a result of the transaction.
- What’s Happening: BNY Mellon launched new payment platform Vaia for payee-choice disbursements.
- What Bank of New York Mellon Does: BNY Mellon is a global investment company involved in managing and servicing financial assets throughout the investment lifecycle.
United Airlines
- The Trade: United Airlines Holdings, Inc. (NASDAQ:UAL) EVP & Chief Growth Officer Gregory L Hart sold a total of 30,000 shares at an average price of $39.54. The insider received around $1.19 million thousand from selling those shares.
- What’s Happening: United Airlines recently reported better-than-expected Q3 results.
- What United Airlines Does: United Airlines is a major U.S. network carrier. United's hubs include San Francisco, Chicago, Houston, Denver, Los Angeles, New York/Newark, and Washington, D.C.
Foot Locker
- The Trade: Foot Locker, Inc. (NYSE:FL) 10% owner Daniel Kretinsky sold a total of 254,532 shares at an average price of $32.27. The insider received around $8.21 million from selling those shares.
- What’s Happening: Telsey Advisory Group recently maintained Foot Locker with a Market Perform and lowered the price target from $42 to $37.
- What Foot Locker Does: Foot Locker Inc operates thousands of retail stores throughout the United States, Canada, Europe, Australia, and New Zealand.
