The US economy added 315,000 payrolls in August. 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.
Williams-Sonoma
- The Trade: Williams-Sonoma, Inc. (NYSE: WSM) PRESIDENT POTTERY BARN BRAND Marta Benson sold a total of 12,000 shares at an average price of $148.69. The insider received around $1.78 million from selling those shares.
- What’s Happening: Williams-Sonoma recently reported better-than-expected Q2 EPS and sales results.
- What Williams-Sonoma Does: With a wide retail and direct-to-consumer presence, Williams-Sonoma is a leader in the $300 billion domestic home category, focused on expanding its exposure in the B2B, marketplace, and franchise areas.
Amazon.com (NASDAQ:AMZN)
- The Trade: Amazon.com, Inc. (NASDAQ: AMZN) CEO Amazon Web Services Adam Selipsky sold a total of 1,020 shares at an average price of $128.60. The insider received around $131.17 thousand as a result of the transaction.
- What’s Happening: Amazon.com recently launched Amazon Warehousing & Distribution to help its sellers store bulk inventory and ease distribution to tackle supply chain issues.
- What Amazon.com Does: Amazon is a leading online retailer and one of the highest-grossing e-commerce aggregators, with $386 billion in net sales and approximately $578 billion in estimated physical/digital online gross merchandise volume in 2021.
Marathon Oil
- The Trade: Marathon Oil Corporation (NYSE: NYSE:MRO) Director, Chairman, President and CEO Lee M Tillman sold a total of 83,469 shares at an average price of $25.25. The insider received around $2.11 million from selling those shares.
- What’s Happening: Barclays (LON:BARC) recently maintained Marathon Oil with an Overweight and lowered the price target from $35 to $31.
- What Marathon Oil Does: Marathon is an independent exploration and production company primarily focusing on unconventional resources in the United States.
Read at Benzinga