Insiders Selling American Airlines, Costco Wholesale And 2 Other Stocks

The Nasdaq Composite closed slightly higher on Wednesday. Investors, meanwhile, focused on some notable insider trades.

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.

Costco Wholesale

• The Trade: Costco Wholesale Corporation COST Executive VP and CFO Richard Galanti sold a total of 2,468 shares at an average price of $483.32. The insider received around $1 million from selling those shares.
• What’s Happening: Costco recently posted mixed Q2 results.
• What Costco Wholesale Does: The leading warehouse club, Costco has 838 stores worldwide (at the end of fiscal 2022), with most sales derived in the United States (73%) and Canada (14%).

Have a look at our premarket coverage here

Procore Technologies

• The Trade: Procore Technologies, Inc. PCOR Chief Data Officer Driscoll Joy Durling sold a total of 7,500 shares at an average price of $59.69. The insider received around $447.68 thousand from selling those shares.
• What’s Happening: Procore Technologies reported better-than-expected Q4 results.
• What Procore Technologies Does: Procore Technologies Inc is a cloud-based construction management software company. It generates revenue through subscriptions for access to its software products.

Thermo Fisher Scientific

• The Trade: Thermo Fisher Scientific Inc. TMO Chairman and CEO Marc N Casper sold a total of 15,000 shares at an average price of $549.14. The insider received around $8.24 million from selling those shares.
• What’s Happening: Thermo Fisher Scientific increased its quarterly dividend from $0.30 to $0.35 per share.
• What Thermo Fisher Scientific Does: Thermo Fisher Scientific sells scientific instruments and laboratory equipment, diagnostics consumables, and life science reagents.

Check This Out: Top 5 Industrials Stocks Which May Explode In March

American Airlines Group

• The Trade: American Airlines Group Inc. AAL EVP Chief Commercial Officer Vasu Raja sold a total of 9,954 shares at an average price of $15.07. The insider received around $150.01 thousand from selling those shares.
• What’s Happening: American Airlines recently filed for mixed-securities shelf offering.
• What American Airlines Does: American Airlines is the world's largest airline by scheduled revenue passenger miles.