When insiders sell a stock, it implies that they are concerned about the company’s future or believe the stock is expensive. In either case, this indicates a chance to sell the stock short. Insider sales should not be used as the only criterion for making trading or investing decisions. At most, it can help you feel more confident about your goal of selling.
1. Marvell Technology
The Deal: Executive Vice President Optical and Copper Connectivity Group Loi Nguyen of Marvell Technology, Inc. sold a total of 10983 shares at an average price of $89.26. As a result of the transaction, the insider gained $87,738.79. A total of 983 shares were also purchased by the insider.
What’s New: Citigroup upgraded Marvell Technology from a Hold to a Buy and boosted the price target from $87 to $97.
Industry: Marvell Technology is a renowned fabless semiconductor manufacturer specializing in networking and storage applications. Marvell provides processors, optical connectors, application-specific integrated circuits (ASICs), and merchant silicon for Ethernet applications to the data center, carrier, enterprise, automotive, and consumer end markets.
The Deal: Tuan Tran, President of HP Inc. Imaging, Printing, and Solutions Business, disposed off 82096 units at a median price of $37.75. Due to this trade, the insider received $3,098,713.52.
What’s happening: HP reported better-than-expected Q4 numbers last month.
Industry: HP Inc. is a significant computer, printer, and printer supply company. Personal systems, which includes laptops, desktops, and workstations; printing, which includes supplies, consumer hardware, and commercial hardware; and corporate investments are the company’s three operating business segments.
3. Abbott Laboratories
The deal: Sammy Karam, Abbott Laboratories’ Senior Vice President of Emerging Markets, traded off 4700 shares at an average price of $140.00. Trading the shares netted the insider $658,023.03.
What’s New: Raymond James upgraded Abbott Laboratories from Outperform to Outperform+ and boosted the price target from $134 to $150.
Industry: Abbott makes and sells medical devices, adult and pediatric nutrition, diagnostic equipment, and testing kits, and branded generic pharmaceuticals. Pacemakers, implantable cardioverter defibrillators, neuromodulation devices, coronary stents, catheters, infant formula, adult nutritional liquids, immunoassays, and point-of-care diagnostic equipment are among the company’s products.
The Deal: Robson Walton, a director of Walmart Inc., traded 841592 shares at a median price of $140.36. Trading the shares netted the insider $97,635,020.84.
What’s Happening: Walmart has declared its intention to construct a new fulfillment center in Salt Lake City, Utah, to accommodate its eCommerce operations.
Industry: Walmart is America’s largest retailer by sales, with approximately 11,400 locations under 54 banners providing a variety of general merchandise and grocery items by the end of fiscal 2021. In fiscal 2021, its home market accounted for 78 percent of revenues, while its major external markets were Mexico and Central America (6 percent) and Canada (4 percent).
5. Nuance Communications
The Deal: Robert Dahdah, Chief Revenue Officer and Executive Vice President of Nuance Communications, Inc., sold a total of 65280 shares at an average price of $55.03. Selling the shares netted the insider $3,592,521.97.
What’s happening: Microsoft recently received unconditional antitrust permission from the European Commission for its planned takeover of Nuance Communications, a transcription software company.
Industry: Nuance Communications Inc is a pioneer in conversational AI advancements that bring intelligence to everyday work and living. The company provides technologies that help people understand, analyze, and respond to them, enhancing human intelligence and boosting productivity and security.