When insiders sell stock, it indicates that they are concerned about the company’s prospects or that they view the stock as too expensive. Either way, this indicates an opportunity to go short on the stock. Insider sales should not be considered the sole indicator for making an investment or trading decision. At best, it can convince a sales decision.
Below are some recent notable insider sales. For more, check out Benzinga’s Insider Trading platform.
The trade: Draft Kings Inc. (NASDAQ: DKNG) Director John Salter sold a total of 4567252 shares at an average price of $60.08. The insider received $7,264,585.35 as a result of the transaction.
What is going on: DraftKings has announced plans to offer its Daily Fantasy Sports starting August 28 in Arizona, pending regulatory approval.
What DraftKings does: DraftKings is a digital sports entertainment and gaming company.
The trade: The Wendy’s Company (NASDAQ: WEN) Director Matthew H Peltz sold a total of 594325 shares at an average price of $23.41. The insider received $13,912,078.02 from the sale of those shares.
What is going on: Wendy’s reported revenue growth in the second quarter of FY21 earlier this month of 22.6% year-over-year, to $493.3 million, beating the analyst consensus of $461.63 million.
What Wendy’s does: The Wendy’s Co is a fast food franchisor operating restaurants under the Wendy’s brand.
The trade: Walmart Inc. (NYSE: WMT) Director Robson Walton sold a total of 1616821 shares at an average price of $147.08. The insider received $119,843,948.79 as a result of the transaction.
What is going on: Walmart’s media company, Walmart Connect, recently launched its new demand-side platform, Walmart DSP.
What Walmart does: Walmart, America’s largest retailer by revenue, operated more than 11,400 stores under 54 banners at the end of fiscal 2021 and sold a variety of general merchandise and groceries.
The trade: The Carlyle Group Inc. (NASDAQ: CG) Director Daniel A. D’Aniello sold a total of 5000000 shares at an average price of $47.10. The insider received $235.5 million from the sale of those shares.
What is going on: The company announced positive quarterly results last month.
What Carlyle Group does: The Carlyle Group Inc is a diversified multi-product global alternative wealth management company. The company operates in four business segments, including Corporate Private Equity, Real Assets, Global Market Strategies and Fund of Funds Solutions.
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