Benzinga - by Avi Kapoor, Benzinga Staff Writer.
The Nasdaq 100 closed slightly lower on Thursday. 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.
Louisiana-Pacific
- The Trade: Louisiana-Pacific Corporation (NYSE: LPX) SVP, Manufacturing Services Michael Blosser sold a total of 4,060 shares at an average price of $67.00. The insider received around $272,020 from selling those shares.
- What’s Happening: On Nov. 1, Louisiana-Pacific reported third-quarter FY23 net sales of 728 million, beating the consensus of $727.17 million.
- What Louisiana-Pacific Does: Louisiana-Pacific is primarily an oriented strand board producer, while offering engineered wood siding used in home construction and repair and remodel projects.
Datadog
- The Trade: Datadog, Inc. (NASDAQ: DDOG) General Counsel/Corp Secy Kerry Acocella sold a total of 17,500 shares at an average price of $113.49. The insider received around $1.99 million from selling those shares.
- What’s Happening: On Nov. 7, Datadog reported better-than-expected third-quarter results and issued strong guidance.
- What Datadog Does: Datadog is a cloud-native company that focuses on analyzing machine data.
- The Trade: Waste Management, Inc. (NYSE: WM) Pres, Chief Executive Officer James Fish Jr sold a total of 9,550 shares at an average price of $177.00. The insider received around $1.69 million from selling those shares.
- What’s Happening: Waste Management recently said its Board of Directors has approved a 7.1% increase in the planned quarterly dividend rate for 2024, from 70 cents to 75 cents per share.
- What Waste Management Does: WM ranks as the largest integrated provider of traditional solid waste services in the United States, operating 259 active landfills and about 337 transfer stations.
- The Trade: Heidrick & Struggles International, Inc. (NASDAQ: HSII) CFO Mark Harris sold a total of 6,000 shares at an average price of $28.04. The insider received around $168,232 from selling those shares.
- What’s Happening: On Oct. 25, Heidrick & Struggles International reported better-than-expected third-quarter financial results.
- What Heidrick & Struggles International Does: Heidrick & Struggles International Inc is a leadership advisory firm providing executive search and consulting services to businesses and business leaders world wide.
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