Starbucks, NVIDIA And These 3 Stocks Insiders Are Selling

Benzinga - The Nasdaq Composite settled higher on Wednesday. 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.

NVIDIA

• The Trade: NVIDIA Corporation (NASDAQ: NASDAQ:NVDA) Director Mark A Stevens sold a total of 1,014,305 shares at an average price of $158.45. The insider received around $33.27 million from selling those shares.
• What’s Happening: Keybanc maintained NVIDIA with an Overweight and lowered the price target from $230 to $220.
• What NVIDIA Does: Nvidia is the top designer of discrete graphics processing units that enhance the experience on computing platforms.

AutoZone

• The Trade: AutoZone, Inc. (NYSE: AZO) Director, Chairman, President & CEO William C. Rhodes III sold a total of 5,000 shares at an average price of $2,443.31. The insider received around $12.22 million as a result of the transaction.
• What’s Happening: AutoZone, last month, reported first-quarter FY23 sales growth of 8.6% year-on-year to $3.98 billion, beating the consensus of $3.86 billion..
• What AutoZone Does: AutoZone is the premier seller of aftermarket automotive parts, tools, and accessories to do-it-yourself customers in the United States.

NetApp

• The Trade: NetApp, Inc. (NASDAQ: NTAP) CEO George Kurian sold a total of 2,250 shares at an average price of $ $64.50. The insider received around $145.13 thousand from selling those shares.
• What’s Happening: Barclays (LON:BARC) downgraded NetApp from Overweight to Equal-Weight and lowered the price target from $83 to $71.
• What NetApp Does: NetApp is a leading provider of enterprise data management and storage solutions.

Starbucks

• The Trade: Starbucks Corporation (NASDAQ: NASDAQ:SBUX) EVP, CFO Rachel Ruggeri sold a total of 3,960 shares at an average price of $106.50. The insider received around $421.74 thousand from selling those shares.
• What’s Happening: Barclays recently maintained Starbucks with an Overweight and raised the price target from $105 to $121.
• What Starbucks Does: Starbucks is one of the most widely recognized restaurant brands in the world, operating nearly 34,000 stores across more than 80 countries as of the end of fiscal 2021.

PVH

• The Trade: PVH Corp. (NYSE: NYSE:PVH) EVP, General Counsel & Sec. Mark D Fischer sold a total of 1,732 shares at an average price of $81.00. The insider received around $140.29 thousand from selling those shares.
• What’s Happening: Wells Fargo (NYSE:WFC) recently upgraded PVH from Equal-Weight to Overweight and announced an $85 price target..
• What PVH Does: PVH designs and markets branded apparel in more than 40 countries. Its key fashion categories include men's dress shirts, ties, sportswear, underwear, and jeans.

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