Benzinga - by Lisa Levin, Benzinga Editor.
The Nasdaq 100 closed lower by more than 200 points on Wednesday. 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.
Travelzoo
- The Trade: Travelzoo (NASDAQ: TZOO) 10% owner Ralph Bartel sold a total of 94,875 shares at an average price of $6.09. The insider received around $578,203 from selling those shares.
- What’s Happening: Travelzoo posted weaker-than-expected second-quarter results.
- What Travelzoo Does: Travelzoo acts as a publisher of travel and entertainment offers. It operates in three segments. Travelzoo North America segment consists of operations in Canada and the U.S.; Travelzoo Europe segment consists of operations in France, Germany, Spain, and the U.K.; and Jack's Flight Club segment consists of subscription revenue from premium members to access and receive flight deals from Jack's Flight Club via email or via Android or Apple mobile applications.
HubSpot
- The Trade: HubSpot, Inc. (NYSE: HUBS) Executive Chair Brian Halligan sold a total of 8,500 shares at an average price of $506.55. The insider received around $4.31 million from selling those shares.
- What’s Happening: HubSpot posted upbeat second-quarter results.
- What HubSpot Does: HubSpot provides a cloud-based marketing, sales, and customer service software platform referred to as the growth platform.
- The Trade: McDonald's Corporation (NYSE: MCD) President and CEO Christopher Kempczinski sold a total of 5,606 shares at an average price of $280.00. The insider received around $1.57 million from selling those shares.
- What’s Happening: McDonald's reported better-than-expected second-quarter results.
- What McDonald's Does: McDonald's is the largest restaurant owner-operator in the world, with 2022 system sales of $116 billion (by our estimates) across more than 40,000 stores and 115 markets.
- The Trade: Halliburton Company (NYSE: HAL) EVP, Secretary and CLO Van Beckwith sold a total of 5,000 shares at an average price of $43.00. The insider received around $215,000 from selling those shares.
- What’s Happening: Questions are being raised about the trade relationship between U.S. oil and gas companies and Russia following the revelation that equipment worth over $7.1 million from Halliburton has been exported to Russia.
- What Halliburton Does: Halliburton is one of the three largest oilfield service firms in the world, offering superior expertise in a number of business lines, including completion fluids, wireline services, cementing, and countless others.
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