The Nasdaq Composite dropped over 250 points 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.
- The Trade: Mastercard Incorporated MA 10% owner Mastercard Foundation sold a total of 531,633 shares at an average price of $321.82. The insider received around $171.09 million from selling those shares.
- What’s Happening: The company’s stock gained 8% over the previous month.
- What Mastercard Does: Mastercard is the second- largest payment processor in the world, having processed close to $6 trillion in purchase transactions during 2021.
- The Trade: Etsy, Inc. ETSY Director Frederick R Wilson sold a total of 17,500 shares at an average price of $98.43. The insider received around $1.72 million as a result of the transaction.
- What’s Happening: Etsy recently reported better-than-expected Q3 sales results.
- What Etsy Does: Etsy operates a top-10 e-commerce marketplace operator in the U.S. and the U.K., with sizable operations in Germany, France, Australia, and Canada.
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- The Trade: Motorola Solutions, Inc. MSI EVP, GC & Chief Admin Officer Mark S Hacker sold a total of 7,914.4489 shares at an average price of $254.55. The insider received around $2.01 million from selling those shares.
- What’s Happening: Motorola Solutions recently reported better-than-expected Q3 results and issued FY22 adjusted EPS guidance above estimates.
- What Motorola Solutions Does: Motorola Solutions is a leading provider of communications and analytics, primarily serving public safety departments as well as schools, hospitals, and businesses.
- The Trade: Domino’s Pizza, Inc. DPZ President, U.S. & Global Svcs Hugh Joseph Jordan sold a total of 1,280 shares at an average price of $354.95. The insider received around $454.33 thousand from selling those shares.
- What’s Happening: Domino’s Pizza recently reported third-quarter FY22 sales growth of 7.1% year-on-year to $1.068 billion.
- What Domino’s Pizza Does: Domino’s is a restaurant operator and franchiser with nearly 19,000 global stores across more than 90 international markets at the end of 2021.