The Nasdaq Composite dropped around 0.2% 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.
Charles Schwab
- The Trade: The Charles Schwab Corporation (NYSE: NYSE:SCHW) Co-Chairman Charles Schwab sold a total of 284,900 shares at an average price of $67.29. The insider received around $19.17 million from selling those shares.
- What’s Happening: Charles Schwab recently announced it authorized a $15 billion buyback program and raised its dividend from $0.20 to $0.22.
- What Charles Schwab Does: Charles Schwab operates in brokerage, banking, and asset-management businesses.
PepsiCo (NASDAQ:PEP)
- The Trade: PepsiCo, Inc (NASDAQ: PEP) CEO Intl Beverages & CCO Ramkumar Krishnan sold a total of 3,433 shares at an average price of $174.83. The insider received around $600.19 thousand as a result of the transaction.
- What’s Happening: PepsiCo and AQUA Carpatica announced strategic relationship.
- What PepsiCo Does: PepsiCo is one of the largest food and beverage companies globally.
Chipotle Mexican Grill
- The Trade: Chipotle Mexican Grill, Inc. (NYSE: CMG) Chief Restaurant Officer Scott Boatwright sold a total of 1,300 shares at an average price of $1,569.39. The insider received around $2.04 million from selling those shares.
- What’s Happening: Stifel maintained Chipotle with a Buy and raised the price target from $1550 to $1750.
- What Chipotle Does: Chipotle Mexican Grill is the largest fast-casual chain restaurant in the United States, with systemwide sales of $7.5 billion in 2021.
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- The Trade: McDonald's Corporation (NYSE: NYSE:MCD) Director Enrique Hernandez Jr sold a total of 4,500 shares at an average price of $264.02. The insider received around $1.19 million from selling those shares.
- What’s Happening: McDonald's appointed Brian Rice as the Executive Vice President and Global Chief Information Officer (CIO), effective August 31.
- What McDonald's Does: McDonald's is the largest restaurant owner-operator in the world, with 2021 system sales of $112 billion across more than 40,000 stores and 119 countries.
Read at Benzinga