Benzinga - by Lisa Levin, Benzinga Editor. The Nasdaq 100 closed sharply higher on Monday. 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.
TJX Companies
- The Trade: The TJX Companies, Inc. (NYSE: TJX) CEO and President Ernie Herrman sold a total of 56,000 shares at an average price of $89.04. The insider received around $4.01 million from selling those shares.
- What’s Happening: TJX Companies reported second-quarter FY24 sales growth of 8% year-on-year to $12.76 billion, beating the analyst consensus estimate of $12.45 billion.
- What TJX Companies Does: TJX is a leading off-price retailer of apparel, home fashions, and other merchandise. It sells a variety of branded goods, opportunistically buying inventory from a network of over 21,000 vendors worldwide.
ON Semiconductor
- The Trade: ON Semiconductor Corporation (NASDAQ: ON) Director Christine Yan sold a total of 3,624 shares at an average price of $92.16. The insider received around $333,988 from selling those shares.
- What’s Happening: ON Semiconductor reported flat second-quarter FY23 revenue growth year-on-year at $2.09 billion, beating the consensus of $2.02 billion.
- What ON Semiconductor Does: Onsemi is a supplier of power semiconductors and sensors focused on the automotive and industrial markets.
- The Trade: The Andersons, Inc. (NASDAQ: ANDE) Chief Operating Officer William E Krueger sold a total of 26,452 shares at an average price of $50.50. The insider received around $1.34 million from selling those shares.
- What’s Happening: Andersons reported strong second-quarter earnings.
- What Andersons Does: Andersons Inc is an agriculture company that conducts business in North America. Its operations are segmented into trade, ethanol, plant nutrient, and rail.
- The Trade: CME Group Inc. (NASDAQ: CME) Chairman and CEO Terrence A Duffy sold a total of 30,000 shares at an average price of $203.95. The insider received around $6.12 million from selling those shares.
- What’s Happening: CME Group reported better-than-expected second-quarter results.
- What CME Group Does: Based in Chicago, CME Group operates exchanges giving investors, suppliers, and businesses the ability to trade futures and derivatives based on interest rates, equity indexes, foreign currencies, energy, metals, and commodities.
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