Benzinga - The Nasdaq Composite closed slightly lower on Monday. 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.
FedEx
- The Trade: FedEx Corporation (NYSE: FDX) EVP/Chief Customer Officer Brie Carere sold a total of 1,750 shares at an average price of $232.08. The insider received around $406.14 thousand from selling those shares.
- What’s Happening: FedEx announced that it will consolidate its operating companies into one organization. The company also announced a 10% dividend increase.
- What FedEx Does: FedEx pioneered overnight delivery in 1973 and remains the world's largest express package provider.
Ross Stores
- The Trade: Ross Stores, Inc. (NASDAQ: ROST) Pres., Chief Capability Ofcr Michael K Kobayashi sold a total of 12,221 shares at an average price of $106.00. The insider received around $1.3 million from selling those shares.
- What’s Happening: JP Morgan maintained Ross Stores with an Overweight and raised the price target from $123 to $124.
- What Ross Stores Does: Ross Stores is a leading American off-price apparel and home fashion retailer, operating over 1,920 stores at the end of fiscal 2021 under the Ross Dress for Less and dd's Discounts banners.
Snowflake
- The Trade: Snowflake Inc. (NYSE: SNOW) Director Dennis John McMahon sold a total of 1,000 shares at an average price of $144.59. The insider received around $144.59 thousand from selling those shares.
- What’s Happening: Snowflake recently reported Q4 financial results and issued guidance.
- What Snowflake Does: Founded in 2012, Snowflake is a data lake, warehousing, and sharing company that came public in 2020. To date, the company has over 3,000 customers, including nearly 30% of the Fortune 500 as its customers.
- The Trade: SentinelOne, Inc. (NYSE: S) Chief Operating Officer Narayanan Srivatsan sold a total of 43,310 shares at an average price of $16.02. The insider received around $693.8 thousand from selling those shares.
- What’s Happening: SentinelOne reported better-than-expected Q4 adjusted EPS and sales results and issued Q1 revenue guidance above estimates.
- What SentinelOne Does: SentinelOne is a cloud-based cybersecurity company specializing in endpoint protection.