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.
Toll Brothers
- The Trade: Toll Brothers, Inc. (NYSE:TOL) CEO Douglas Yearley Jr disposed a total of 25000 shares at an average price of $70.05. The insider received $1,751,290.00 as a result of the transaction.
- What’s Happening: The company recently posted upbeat quarterly results.
- What Toll Brothers Does: Toll Brothers is the leading luxury homebuilder in the United States with an average sale price well above public competitors'. The company operates in 60 markets across 24 states and caters to move-up, active-adult, and second-home buyers.
Microchip Technology
- The Trade: Microchip Technology, Inc. (NASDAQ:MCHP) Executive Chair Steve Sanghi sold a total of 45340 shares at an average price of $84.47. The insider received $3,829,869.80 from selling those shares.
Wynn Resorts
- The Trade: Wynn Resorts, Limited (NASDAQ:WYNN) CEO Matt Maddox sold a total of 20000 shares at an average price of $90.08. The insider received $1,801,600.00 as a result of the transaction.
- What’s Happening: Goldman Sachs recently maintained Wynn Resorts with a Neutral and lowered the price target from $102 to $91.
- What Wynn Resorts Does: Wynn Resorts operates luxury casinos and resorts. The company was founded in 2002 by Steve Wynn, the former CEO. The company operates four megaresorts: Wynn Macau and Encore in Macao and Wynn Las Vegas and Encore in Las Vegas.
Correction: A previous version of this article said Steve Sanghi was the executive chair at Micron.
.png?w=600)
