Gold futures traded higher this morning on Thursday. 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.
- The Trade: Roblox Corporation RBLX Chief Product Officer Manuel Bronstein sold a total of 30,819 shares at an average price of 41.52. The insider received around $1.28 million from selling those shares.
- What’s Happening: Roblox recently reported worse-than-expected Q2 EPS and sales results.
- What Roblox Does: Roblox operates an online video game platform that lets young gamers create, develop, and monetize games (or “experiences”) for other players.
Also check this: Tesla, Autodesk And Some Other Big Stocks Moving Higher In Today’s Pre-Market Session
- The Trade: Cisco Systems, Inc. CSCO Chair and CEO Charles Robbins sold a total of 12,716 shares at an average price of $47.14. The insider received around $599.4 thousand as a result of the transaction.
- What’s Happening: Cisco recently reported better-than-expected Q4 EPS and sales results.
- What Cisco Does: Cisco Systems is the largest provider of networking equipment in the world and one of the largest software companies in the world.
Have a look at our premarket coverage here .
- The Trade: Walmart Inc. WMT Director Robson Walton sold a total of 522,647 shares at an average price of $135.19. The insider received around $43.62 million from selling those shares.
- What’s Happening: Walmart recently reported second-quarter FY23 revenue growth of 8.4% year-on-year, to $152.86 billion, beating the consensus of $150.75 billion.
- 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.
- The Trade: The Home Depot, Inc. HD EVP, Customer Experience Matt Carey sold a total of 12,650 shares at an average price of $316.26. The insider received around $4 million from selling those shares.
- What’s Happening: Home Depot recently said its board of directors authorized a new $15 billion share repurchase program, replacing its previous authorization.
- What Home Depot Does: Home Depot is the world’s largest home improvement specialty retailer, operating more than 2,300 warehouse-format stores offering more than 30,000 products in store and 1 million products online in the United States, Canada, and Mexico.
Image and article originally from www.benzinga.com. Read the original article here.