US stock futures traded higher this morning on Tuesday after recording sharp losses in the previous session. 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.
Kraft Heinz (NASDAQ:KHC) Company
- The Trade: The Kraft Heinz Company (NASDAQ: KHC) Exec VP/Global Chief Procurement Ofcr Eloi Marcos Lima sold a total of 28,855 shares at an average price of $36.97. The insider received around $1.07 million from selling those shares.
- What’s Happening: Kraft Foods filed U.S. trademark application for HEINZ to include online retail services featuring non-fungible tokens (NFTs) and other virtual goods.
- What Kraft Heinz Does: In July 2015, Kraft merged with Heinz to create the third-largest food and beverage manufacturer in North America behind PepsiCo (NASDAQ:PEP) and Nestle and the fifth-largest player in the world.
Cadence Design (NASDAQ:CDNS) Systems
- The Trade: Cadence Design Systems, Inc. (NASDAQ: CDNS) President and CEO Anirudh Devgan sold a total of 35,217 shares at an average price of $158.82. The insider received around $5.59 million as a result of the transaction.
- What’s Happening: The company’s stock dropped around 20% over the past six months.
- What Cadence Design Systems Does: Cadence Design Systems is a provider of electronic design automation software, intellectual property, and system design and analysis products.
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National Research
- The Trade: National Research Corporation (NASDAQ: NRC) 10% owner Amandla MK Trust sold a total of 246,378 shares at an average price of $36.00. The insider received around $8.87 million from selling those shares.
- What’s Happening: The company, last month, reported a 2.5 million share buyback program.
- What National Research Does: National Research Corp is a provider of analytics and insights that facilitate measurement and improvement of the patient and employee experience while also increasing patient engagement and customer loyalty for healthcare providers, payers, and other healthcare organizations.
Read at Benzinga