Benzinga - US crude oil futures traded lower this morning 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.
3D Systems
- The Trade: 3D Systems Corporation (NYSE: DDD) EVP, Chief Legal Officer & Sec Andrew M. Johnson sold a total of 7,787 shares at an average price of $9.39. The insider received around $72.12 thousand from selling those shares.
- What’s Happening: The company, last month, posted downbeat quarterly sales.
- What 3D Systems Does: 3D Systems Corp provides comprehensive 3D printing and digital manufacturing solutions, including 3D printers for plastics and metals, materials, software, on-demand manufacturing services, and digital design tools.
Lucid Group
- The Trade: Lucid Group, Inc (NASDAQ: LCID) Senior Vice President, Digital Michael Bell sold a total of 12,574 shares at an average price of $8.57. The insider received around $107.72 thousand as a result of the transaction.
- What’s Happening: Evercore ISI Group recently initiated coverage on Lucid with an In-Line rating and announced a price target of $12.
- What Lucid Group Does: Lucid Group Inc is a technology and automotive company.
Walmart (NYSE:WMT)
- The Trade: Walmart Inc. (NYSE: WMT) Director Robson Walton sold a total of 1,183,144 shares at an average price of $148.18. The insider received around $97.82 million from selling those shares.
- What’s Happening: Bernstein recently initiatesd coverage on Walmart with a Market Perform rating and announced a price target of $159.
- What Walmart Does: America's largest retailer by sales, Walmart operated over 10,500 stores under 46 banners at the end of fiscal 2022, selling a variety of general merchandise and grocery items.