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Kimberly-Clark, Electronic Arts And 2 Other Stocks Insiders Are Selling

Published 30/08/2023, 13:54
© Reuters.  Kimberly-Clark, Electronic Arts And 2 Other Stocks Insiders Are Selling
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Benzinga - by Lisa Levin, Benzinga Editor.

The Nasdaq 100 closed higher by over 2% 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.

Electronic Arts

  • The Trade: Electronic Arts Inc. (NASDAQ: EA) CEO and Board Chair Andrew Wilson sold a total of 5,000 shares at an average price of $120.00. The insider received around $600,000 from selling those shares.
  • What’s Happening: The company reported net bookings of $1.578 billion compared to estimates of $1.29 billion, up 21% year-over-year. It reported earnings per share of $1.47, beating the consensus of $1.09.
  • What Electronic Arts Does: EA is one of the world's largest third-party video game publishers and has transitioned from a console-based video game publisher to the one of the largest publishers on consoles, PC, and mobile.
Have a look at our premarket coverage here

Lowe's Companies

  • The Trade: Lowe's Companies, Inc. (NYSE: LOW) EVP, Stores Joseph M. McFarland III sold a total of 4,500 shares at an average price of $222.53. The insider received around $1 million from selling those shares.
  • What’s Happening: Lowe's reported better-than-expected second-quarter earnings and reaffirmed FY23 outlook.
  • What Lowe's Companies Does: Lowe's is the second-largest home improvement retailer in the world, operating more than 1,700 stores in the United States, after the 2023 divestiture of its Canadian locations (RONA, Lowe's Canada, Réno-Dépôt, and Dick's Lumber).
Ross Stores
  • The Trade: Ross Stores, Inc. (NASDAQ: ROST) CEO Barbara Rentler sold a total of 43,254 shares at an average price of $119.58. The insider received around $5.17 million from selling those shares.
  • What’s Happening: Ross Stores reported better-than-expected second-quarter financial results and issued guidance.
  • What Ross Stores Does: Ross Stores is a leading American off-price apparel and home fashion retailer, operating over 2,000 stores (at the end of fiscal 2022) under the Ross Dress for Less and dd's Discounts banners.
Kimberly-Clark
  • The Trade: Kimberly-Clark Corporation (NYSE: KMB) Chief Human Resources Officer Sandra R Karrmann sold a total of 5,122 shares at an average price of $129.80. The insider received around $664,836 from selling those shares.
  • What’s Happening: Kimberly-Clark reported second-quarter FY23 sales growth of 1% year-on-year to $5.1 billion, missing the analyst consensus estimate of $5.13 billion.
  • What Kimberly-Clark Does: With more than half of sales from personal care and another third from tissue products, Kimberly-Clark sits as a leading manufacturer in the tissue and hygiene realm.

Check This Out: HP, Salesforce And 3 Stocks To Watch Heading Into Wednesday

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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