U.S. crude oil futures traded mostly lower this morning on Tuesday. 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.
S&P Global
- The Trade: S&P Global Inc. (NYSE: SPGI) Executive Advisor John Berisford sold a total of 13,450 shares at an average price of $370.59. The insider received around $4.98 million from selling those shares.
- What’s Happening: S&P Global recently reported second-quarter FY22 revenue growth of 42% year-on-year to $2.99 billion, missing the consensus of $3.01 billion.
- What S&P Global Does: S&P Global provides data and benchmarks to capital and commodity market participants. In 2021 and excluding IHS Markit, S&P Ratings was over 45% of the firm's revenue and over 55% of the firm's operating income.
Procter & Gamble Company
- The Trade: The Procter & Gamble Company (NYSE: PG) CEO - Baby, Fem & Family Care Ma. Fatima Francisco sold a total of 4,000 shares at an average price of $146.00. The insider received around $584 thousand as a result of the transaction.
- What’s Happening: Procter & Gamble recently reported worse-than-expected Q4 adjusted EPS results.
- What Procter & Gamble Does: Since its founding in 1837, Procter & Gamble has become one of the world's largest consumer product manufacturers, generating more than $75 billion in annual sales.
Eaton (NYSE:ETN) Corporation
- The Trade: Eaton Corporation plc (NYSE: ETN) Director Deborah McCoy sold a total of 3,000 shares at an average price of $148.72. The insider received around $446.17 thousand from selling those shares.
- What’s Happening: Eaton recently reported second-quarter net sales were flat year-over-year at $5.212 billion, +11% on an organic basis, marginally beating the consensus of $5.21 billion.
- What Eaton Does: Eaton is a diversified power management company operating for over 100 years.
- The Trade: Robinhood Markets, Inc. (NASDAQ: HOOD) Chief Legal Officer Daniel M. Gallagher, Jr. sold a total of 110,000 shares at an average price of $10.73. The insider received around $1.18 million from selling those shares.
- What’s Happening: Robinhood recently disclosed in a filing that the U.S. Securities and Exchange Commission has been probing the company's compliance with short selling rules since October 2021.
- What Robinhood Does: Robinhood Markets Inc (NASDAQ:HOOD) is creating a modern financial services platform.
- The Trade: Wynn Resorts, Limited (NASDAQ: WYNN) Director Patricia Mulroy sold a total of 2,000 shares at an average price of $67.11. The insider received around $134.22 thousand from selling those shares.
- What’s Happening: The company is expected to release quarterly earnings after the closing bell today.
- What Wynn Resorts Does: Wynn Resorts operates luxury casinos and resorts. The company was founded in 2002 by Steve Wynn, the former CEO.
Read at Benzinga