Asian stock markets closed mostly higher on Wednesday as investors monitored the ongoing Russia-Ukraine crisis. 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.
Newell Brands
- The Trade: Newell Brands Inc. (NYSE: NWL) 10% owner Icahn Partners Master Fund Lp disposed a total of 10,634,184 shares at an average price of $25.86. The insider received around $275 million as a result of the transaction.
- What’s Happening: Newell Brands agreed to repurchase about $275 million of its common shares owned by Carl C. Icahn and his associates.
- What Newell Brands Does: Newell Brands Inc is an American global consumer goods company.
- The Trade: Interactive Brokers Group, Inc. (NASDAQ: IBKR) Chairman Thomas Peterffy sold a total of 42,700 shares at an average price of $71.12. The insider received around $3.04 million from selling those shares.
- What’s Happening: The company, last month, posted downbeat quarterly sales.
- What Interactive Brokers Group Does: Interactive Brokers Group Inc, or IB, conducts broker-dealer agency business and proprietary trading business worldwide.
Charles Schwab
- The Trade: The Charles Schwab Corporation (NYSE: NYSE:SCHW) Chairman Charles Schwab sold a total of 192,480 shares at an average price of $85.93. The insider received around $13.48 million as a result of the transaction.
- What’s Happening: Charles Schwab, last month, raised dividend from $0.18 to $0.20.
- What Charles Schwab Does: Charles Schwab operates in the brokerage, banking, and asset-management businesses. The company runs a large network of brick-and-mortar brokerage branch offices and a well-established online investing website.
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- The Trade: Bunge Limited (NYSE: BG) Director Continental Grain Co sold a total of 400,000 shares at an average price of $99.87. The insider received around $39.95 million from selling those shares.
- What’s Happening: Bunge recently reported fourth-quarter FY21 sales growth of 32.3% year-on-year, to $16.68 billion.
- What Bunge Does: Founded in 1818, Bunge is a global agribusiness and food company with operations along the farm-to-consumer food chain.
- The Trade: Tesla, Inc. (NASDAQ: TSLA) Chief Financial Officer Zachary Kirkhorn sold a total of 1,250 shares at an average price of $913.26. The insider received around $1.14 million from selling those shares.
- What’s Happening: Tesla recentlyexpanded its car color feature in the United States and other regions after piloting it in China earlier this month.
- What Tesla Does: Founded in 2003 and based in Palo Alto, California, Tesla is a vertically integrated sustainable energy company that also aims to transition the world to electric mobility by making electric vehicles.
Read at Benzinga