5 Stocks Insiders Are Selling

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. RS President Karla R Lewis disposed a total of 8630 shares at an average price of $155.02. The insider received $1,337,796.76 as a result of the transaction.
• What’s Happening: Keybanc recently maintained Reliance Steel & Aluminum with an Overweight and raised the price target from $165 to $175.
• 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.

Schneider National

• The Trade: Schneider National, Inc. SNDR Exec VP/Pres: Transportation & Logistics David Geyer sold a total of 39000 shares at an average price of $24.57. The insider received $958,210.50 from selling those shares.
• What’s Happening: The company, in October, posted upbeat quarterly results.
• What Schneider National Does: Schneider National ranks among the largest U.S. full-truckload carriers, including its for-hire and dedicated operations (50% of total revenue).

IMAX

• The Trade: IMAX Corporation IMAX Pres: Imax Theaters Mark Welton sold a total of 20807 shares at an average price of $16.39. The insider received $341,032.13 as a result of the transaction. The insider also acquired a total of 10791 shares.
• What’s Happening: Disney, last month, announced partnership with Imax Corp to offer a new experience for at-home viewing.
• What IMAX Does: Imax is now primarily a technology hardware and brand-licensing company that does not operate the vast majority of Imax theaters.

NVIDIA

• The Trade: NVIDIA Corporation NVDA President and CEO Jen-Hsun Huang sold a total of 1710522 shares at an average price of $326.16. The insider received $143,510,724.93 from selling those shares. The insider also acquired a total of 457580 shares.
• What’s Happening: The Federal Trade Commission recently sued to block U.S. chip supplier NVIDIA’s $40 billion acquisition of the SoftBank Group backed U.K. chip design provider Arm.
• What NVIDIA Does: Nvidia is the top designer of discrete graphics processing units that enhance the experience on computing platforms. The firm's chips are used in a variety of end markets, including high-end PCs for gaming, data centers, and automotive infotainment systems.

Walmart

• The Trade: Walmart Inc. WMT Director B Robson Walton sold a total of 1339387 shares at an average price of 137.23. The insider received $107,777,633.07 from selling those shares.
• What’s Happening: Walmart Canada recently announced plans to acquire Toronto start-up Foodmaestro.
• What Walmart Does: America's largest retailer by sales, Walmart operated over 11,400 stores under 54 banners at the end of fiscal 2021, selling a variety of general merchandise and grocery items.