Benzinga - by Avi Kapoor, Benzinga Staff Writer.
The Nasdaq 100 closed higher by around 0.4% on Tuesday. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company’s prospects or that they view the stock as being overpriced. 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.
Costco Wholesale
- The Trade: Costco Wholesale Corporation (NASDAQ: COST) Director Craig Jelinek sold a total of 8,000 shares at an average price of $685.93. The insider received around $5.49 million from selling those shares.
- What’s Happening: In a bid to curb unauthorized access to its stores, retail giant Costco is implementing new measures, including a trial of a scanning system at store entrances.
- What Costco Wholesale Does: Costco operates a membership-based, no-frills retail model, predicated on offering a select product assortment in bulk quantities at bargain prices.
THOR Industries
- The Trade: THOR Industries, Inc. (NYSE: THO) SVP, Chief Operating Officer Todd W. Woelfer sold a total of 6,666 shares at an average price of $116.25. The insider received around $774,923 from selling those shares.
- What’s Happening: Thor Industries, last month, reported a first-quarter, fiscal year 2024 sales decline of 19.5% year-on-year to $2.501 billion, missing the analyst consensus of $2.53 billion.
- What THOR Industries Does: Based in Elkhart, Indiana, Thor Industries manufactures Class A, Class B, and Class C motor homes along with travel trailers and fifth wheel towables across over 30 brands.
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Five Below - The Trade: Five Below, Inc. (NASDAQ: FIVE) Director Thomas Vellios sold a total of 10,000 shares at an average price of $185.82. The insider received around $1.86 million from selling those shares.
- What’s Happening: Five Below recently announced fourth-quarter and holiday guidance.
- What Five Below Does: Five Below is a value-oriented retailer that operated 1,340 stores in the United States as of the end of fiscal 2022.
- The Trade: Signet Jewelers Limited (NYSE: SIG) CEO Virginia Drosos sold a total of 10,000 shares at an average price of $99.85. The insider received around $1 million from selling those shares. The company’s Chief Information Officer also sold 1,000 shares of the company.
- What’s Happening: Signet Jewelers, last month, said third-quarter sales declined 12.1% YY to $1.392 billion, marginally beating the analyst consensus of $1.390 billion.
- What Signet Jewelers Does: Signet Jewelers Ltd is a retailer of diamond jewelry. Its merchandise mix includes bridal, fashion, watches and others.
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