Benzinga - The Nasdaq Composite recorded gains on Wednesday. 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.
Kirkland's
- The Trade: Kirkland's, Inc. (NASDAQ: KIRK) 10% owner Osmium Diamond LP sold a total of 12,214 shares at an average price of $3.02. The insider received around $36.83 thousand from selling those shares.
- What’s Happening: Kirkland's, last month, posted downbeat quarterly results.
- What Kirkland's Does: Kirkland's Inc is a specialty retailer of home decor and gifts in the United States.
Skechers U.S.A.
- The Trade: Skechers U.S.A., Inc. (NYSE: SKX) President Michael Greenberg sold a total of 20,833 shares at an average price of $42.12. The insider received around $877.52 thousand as a result of the transaction.
- What’s Happening: Piper Sandler recently initiated coverage on Skechers USA with a Neutral rating and announced a price target of $42.
- What Skechers Does: Skechers USA Inc is a lifestyle footwear company under the Skechers GO brand name.
HP
- The Trade: HP Inc. (NYSE: NYSE:HPQ) President and CEO Enrique Lores sold a total of 34,000 shares at an average price of $27.13. The insider received around $922.42 thousand from selling those shares.
- What’s Happening: HP, during November, announced an FY23 Future Ready Transformation plan, driving significant structural cost savings through digital transformation, portfolio optimization, and operational efficiency.
- What HP Does: HP Incorporated is a leading provider of computers, printers, and printer supplies.
QUALCOMM
- The Trade: QUALCOMM Incorporated (NASDAQ: NASDAQ:QCOM) Chief Commercial Officer James J Cathey sold a total of 2,084 shares at an average price of $111.09. The insider received around $231.51 thousand from selling those shares.
- What’s Happening: Qualcomm launched the Snapdragon Ride Flex SoC, allowing the digital cockpit, ADAS, and AD functions to co-exist on a single SoC.
- What QUALCOMM Does: Qualcomm develops and licenses wireless technology and designs chips for smartphones.