When insiders sell stocks, it indicates their concern about the prospects of the company or that they consider the stock to be overvalued. Either way, this signals an opportunity to short sell the stock. Insider selling should not be taken as the sole indicator for making an investment or trading decision. At best, it can add conviction to a sales decision.
Below is an overview of some recent notable Insider Sales. For more information, see Benzinga insider trading Platform.
The exchange: TJX Companies, Inc. (NYSE: TJX) Executive Chairman Carol Meyrowitz sold a total of 72,546 shares at an average price of $ 74.07. The insider received $ 5,373,155.76 as a result of the transaction.
What is happening: TJX last week reported second-quarter FY22 net sales of $ 12.08 billion, beating analysts’ consensus of $ 11.01 billion.
What TJX does: TJX is a leading low-cost retailer of clothing, home fashion and other merchandise. It sells a variety of branded products, opportunistically buying inventory from a network of more than 21,000 suppliers around the world.
The exchange: Lazard Ltd. (NYSE: LAZ) President Alexander F Stern sold a total of 90,000 shares at an average price of $ 45.50. The insider received $ 4,095,000.00 from the sale of these shares.
What is happening: The company last month reported optimistic quarterly results.
What Lazard does: Lazard has a rich history dating back to 1848. The company’s revenue is almost evenly split between financial advice, such as acquisition and restructuring advice, and asset management.
The exchange: Maker (NYSE: FN) CEO Seamus Grady sold a total of 45,450 shares at an average price of $ 101.78. The insider received $ 4,625,779.38 as a result of the transaction.
What is happening: Fabrinet last week released better-than-expected fourth quarter results and released better-than-expected first quarter guidance.
What Fabrinet does: Fabrinet is a United States-based company primarily engaged in providing outsourced manufacturing services to original equipment manufacturers.
The morning star
The exchange: Morningstar, Inc. (NASDAQ: MORN) Executive Chairman Joseph Mansueto sold a total of 16,567 shares at an average price of $ 262.34. The insider received $ 4,346,129.53 from the sale of these shares.
What is happening: The company last month announced an increase in profits and sales in the second quarter.
What Morningstar does: Morningstar is an independent investment research provider for financial advisers, asset managers and investors.
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