Although gold futures traded lower this morning on Wednesday, there were a few 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.
AutoNation
- The Trade: AutoNation, Inc. (NYSE: AN) 10% owner Edward S. Lampert sold a total of 119,007 shares at an average price of $98.97. The insider received around $11.78 million from selling those shares.
- What’s Happening: Morgan Stanley (NYSE:MS), last month, raised the price target on the stock from $103 to $108.
- What AutoNation Does: AutoNation is the largest automotive dealer in the United States, with 2021 revenue of $25.8 billion and about 250 dealerships at nearly 350 locations, plus 57 collision centers.
- The Trade: VMware, Inc. (NYSE: VMW) Chief Financial Officer Zane Rowe sold a total of 76,362 shares at an average price of $114.39. The insider received around $8.74 million from selling those shares.
- What’s Happening: Google (NASDAQ:GOOGL) Cloud and VMware reported expansion of partnership 'to help customers accelerate app modernization and cloud transformation.'
- What VMware Does: VMware is an industry leader in virtualizing IT infrastructure and became a stand-alone entity after spinning off from Dell Technologies in November 2021.
ZoomInfo Technologies
- The Trade: ZoomInfo Technologies Inc. (NASDAQ: ZI) 10% owner Carlyle Holdings I Lp sold a total of 305,541 shares at an average price of $60.19. The insider received around $18.39 million as a result of the transaction.
- What’s Happening: ZoomInfo, last month, announced plans to open new office near Tel Aviv, Israel.
- What ZoomInfo Technologies Does: ZoomInfo Technologies Inc provides a go-to-market intelligence platform for sales and marketing teams. Its cloud-based go-to-market data and insights platform deliver comprehensive and high-quality intelligence and analytics to provide sales and marketing professionals with accurate information and insights on the organizations and professionals.
MongoDB
- The Trade: MongoDB, Inc. (NASDAQ: MDB) Director Dwight Merriman sold a total of 14,000 shares at an average price of $457.74. The insider received around $6.41 million from selling those shares.
- What’s Happening: UBS recently upgraded the stock from Neutral to Buy and raised its price target from $345 to $450.
- What MongoDB Does: Founded in 2007, MongoDB is a document-oriented database with nearly 33,000 paying customers and well past 1.5 million free users. MongoDB provides both licenses as well as subscriptions as a service for its NoSQL database.
- The Trade: Monolithic Power Systems, Inc. (NASDAQ: MPWR) CEO Michael Hsing sold a total of 11,250 shares at an average price of $467.23. The insider received around $5.26 million from selling those shares.
- What’s Happening: Monolithic Power Systems, in February, reported better-than-expected Q4 EPS and sales results.
- What Monolithic Power Systems Does: Monolithic Power Systems is an analog and mixed-signal chipmaker, specializing in power management solutions.
Read at Benzinga