Robinhood And 3 Other Stocks Insiders Are Selling

US crude oil futures traded higher this morning on Wednesday after dropping sharply in the previous session. 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.
 

BJ's Wholesale Club Holdings

• The Trade: BJ's Wholesale Club Holdings, Inc. BJ EVP, Chief Operations Officer Jeff Desroches sold a total of 15,000 shares at an average price of $66.58. The insider received around $1 million from selling those shares.
• What’s Happening: BJ’s Wholesale Club recently announced WOW Days savings event.
• What BJ's Wholesale Club Does: BJ's Wholesale Club Holdings Inc is a warehouse club and gas station operator.

Also check this: Delta Air Lines, Fastenal And 3 Stocks To Watch Heading Into Wednesday

Paychex

• The Trade: Paychex, Inc. PAYX Chairman and CEO Martin Mucci sold a total of 21,631 shares at an average price of $116.80. The insider received around $2.53 million as a result of the transaction.
• What’s Happening: Paychex recently reported Q4 results and issued guidance.
• What Paychex Does: Paychex is a leading provider of payroll, human capital management, and insurance solutions servicing small and midsize clients primarily in the United States.

Have a look at our premarket coverage here .

Robinhood Markets

• The Trade: Robinhood Markets, Inc. HOOD Chief Financial Officer Jason Warnick sold a total of 20,000 shares at an average price of $9.00. The insider received around $180.03 thousand from selling those shares.
• What’s Happening: JMP Securities maintained Robinhood Markets with a Market Outperform and lowered the price target from $36 to $28.
• What Robinhood Does: Robinhood Markets Inc is creating a modern financial services platform. It designs its own products and services and delivers them through a single, app-based cloud platform supported by proprietary technology.
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Centene

• The Trade: Centene Corporation CNC Director Richard Gephardt sold a total of 4,480 shares at an average price of $88.00. The insider received around $394.24 thousand from selling those shares.
• What’s Happening: Centene is expected to release its 2022 second quarter financial results on Tuesday, July 26, 2022.
• What Centene Does: Centene is a managed-care organization focused on government-sponsored healthcare plans, including Medicaid, Medicare, and the individual exchanges.