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.
Reliance Steel & Aluminum
- The Trade: Reliance Steel & Aluminum Co. (NYSE: RS) CEO James Donald Hoffman disposed a total of 5000 shares at an average price of $165.07. The insider received $825,350.74 as a result of the transaction.
- What’s Happening: Reliance Steel & Aluminum, last month, announced acquisition of Rotax Metals, Inc.
- What Reliance Steel & Aluminum Does: Reliance Steel & Aluminum is a metal service center in the United States, providing metal processing and inventory management services for carbon and stainless steel, aluminum, and alloys.
- The Trade: JAKKS Pacific, Inc. (NASDAQ: JAKK) CEO, President and Secretary Stephen G Berman sold a total of 34406 shares at an average price of $9.83. The insider received $338,059.52 from selling those shares.
- What’s Happening: Jakks Pacific’s Disguise announced Squid Game costume and accessory launch in Fall of 2022.
- What JAKKS Pacific Does: Jakks Pacific Inc is a multi-brand toy company that designs, produces, markets and distributes toys and related products, consumables and related products, electronics and related products, kids indoor and outdoor furniture, and other consumer products.
Restaurant Brands International
- The Trade: Restaurant Brands International Inc. (NYSE: QSR) COO Joshua Kobza sold a total of 16836.8187 shares at an average price of $58.62. The insider received $986,974.31 as a result of the transaction. The insider bought a total of 381.2539 shares.
- What’s Happening: Piper Sandler recently downgraded Restaurant Brands Intl from Overweight to Neutral and lowered the price target from $70 to $60.
- What Restaurant Brands International Does: Restaurant Brands International is one of the largest restaurant companies in the world, with $30.7 billion in 2020 systemwide sales across a footprint that spans more than 27,000 restaurants and 100 countries.
- The Trade: Williams-Sonoma, Inc. (NYSE: WSM) President and CEO Laura Alber sold a total of 25000 shares at an average price of $159.15. The insider received $3,978,855.21 from selling those shares.
- What’s Happening: Williams-Sonoma recently highlighted debut of ‘LEGO x Pottery Barn Kids’.
- What Williams-Sonoma Does: With a wide retail and direct-to-consumer presence, Williams-Sonoma is a leader in the $112 billion domestic home furnishings category, focused on expanding its exposure in the B2B, marketplace, and franchise areas.
- The Trade: Tesla, Inc. (NASDAQ: TSLA) Chief Accounting Officer Vaibhav Taneja sold a total of 1100 shares at an average price of $1,160.85. The insider received $1,276,940.20 from selling those shares.
- What’s Happening: Tesla CEO Elon Musk-led SpaceX is planning a second orbital launch of the year aboard the reusable Falcon 9 rocket later this week to transport dozens of small satellites for rideshare customers.
- What Tesla Does: Founded in 2003 and based in Palo Alto, California, Tesla is a vertically integrated sustainable energy company that also aims to transition the world to electric mobility by making electric vehicles.
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