When insiders dump the stock, it implies that they are concerned about the company’s forecasts 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 decision to sell.
Here are a few major insider sales during the last few months:
The Transaction: Executive Officer John Mulligan of Target Corporation TGT +0 percent (Get Free Alerts for TGT) sold a total of 28918 shares at an average price of $223.60. As a result of the transaction, the insider received $6,466,006.90.
What’s going on: Target announced last month that overall revenue for the third quarter of FY21 increased 13.3% year over year to $25.65 billion.
What Target Does: Target is a leading American general merchandise retailer with 1,897 stores (as of fiscal 2020), supplying a wide range of products throughout many categories, including beauty and household essentials (26% of fiscal 2020 sales), food and beverage (20%), home furnishings and décor (20%), hardlines (18%), and apparel and accessories (18%). (16 percent ).
2. Trade Desk
The Transaction: Blake Jeffrey Grayson, CFO of The Trade Desk, Inc TTD +0 percent, sold a total of 40111 shares at an average price of $87.33 per share. Selling the shares netted the insider $3,502,696.01. A total of 9000 shares were also purchased by the insider.
What’s going on: Needham kept Trade Desk as a Buy and boosted the price objective from $100 to $115 earlier this month.
What Trade Desk Does: The Trade Desk Inc is a technology company that provides a marketplace for ad buyers. Ad buyers may build, manage, and optimize data-driven digital advertising campaigns across a variety of ad formats and channels, including display, video, audio, in-app, native, and social, on a variety of devices, using its cloud-based platform.
The Transaction: SNAP minus 0% Jeremi Gorman, Chief Business Officer, sold 51425 shares at an average price of $44.47. As a result of the trade, the insider received $2,286,615.87.
What’s New: JP Morgan downgraded Snap to Overweight from Overweight and decreased the price objective from $73 to $65.
What Snap Does: Snap, which describes itself as a camera company, is the creator of Snapchat, one of the most popular social networking apps in developed nations such as North America and Europe.
4. Charles Schwab
The transaction: Chairman Charles Schwab of the Charles Schwab Corporation sold a total of 372428 shares at an average price of $80.61. Selling those shares netted the insider $4,836,882.00.
What’s going on: Shares of Charles Schwab recently hit a new 12-month high of $85.75.
What Charles Schwab Does: Charles Schwab is a brokerage firm that also does banking and asset management. The firm operates a wide network of brick-and-mortar brokerage offices as well as a well-known online investing platform.