The Nasdaq 100 closed higher by 0.4% 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.
Walmart
- The Trade: Walmart Inc. (NYSE:WMT) President and CEO C Douglas McMillon sold a total of 29,124 shares at an average price of $60.03. The insider received around $1.75 million from selling those shares.
- What’s Happening: On April 16, Evercore ISI Group analyst Greg Melich maintained Walmart with an Outperform and lowered the price target from $67 to $66.
- What Walmart Does: Walmart serves as the preeminent retailer in the United States, with its strategy predicated on superior operating efficiency and offering the lowest priced goods to consumers to drive robust store traffic and product turnover.
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IMAX
- The Trade: IMAX Corporation (NYSE:IMAX) CTO and EVP Calamera Pablo sold a total of 6,130 shares at an average price of $17.05. The insider received around $104,528 from selling those shares.
- What’s Happening: On April 25, Imax reported quarterly earnings of 15 cents per share which beat the analyst consensus estimate of 10 cents.
- What IMAX Does: Imax Corp is a premier global technology platform for entertainment and events
PriceSmart
- The Trade: PriceSmart, Inc. (NASDAQ:PSMT) Director Sherry S. Bahrambeygui sold a total of 1,500 shares at an average price of $80.52. The insider received around $120,780 from selling those shares.
- What’s Happening: On April 9, PriceSmart reported better-than-expected second-quarter results and announced a one-time special dividend of $1 per share.
- What PriceSmart Does: Pricesmart Inc is principally engaged in operating U.S.-style membership shopping warehouse clubs that offer consumer goods at low prices.
Raymond James Financial
- The Trade: Raymond James Financial, Inc. (NYSE:RJF) President & CEO RJBank Steven M Raney sold a total of 4,174 shares at an average price of $121.01. The insider received around $505,107 from selling those shares.
- What’s Happening: On April 24, Raymond James Financial reported mixed second-quarter financial results.
- What Raymond James Financial Does: Raymond James Financial is a financial holding company whose major operations include wealth management, investment banking, asset management, and commercial banking.
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