Microsoft And 2 Other Stocks Insiders Are Selling

The Nasdaq Composite dropped over 150 points on Friday. 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.

Hyatt Hotels

• The Trade: Hyatt Hotels Corporation H Director Michael Rocca sold a total of 3,000 shares at an average price of $87.55. The insider received around $262.65 thousand from selling those shares.
• What’s Happening: Hyatt Hotels, last month, reported second-quarter FY22 sales of $1.48 billion, beating the consensus of $1.35 billion
• What Hyatt Hotels Does: Hyatt is an operator of 1,162 owned (5% of total rooms) and managed and franchise (95%) properties across roughly 20 upscale luxury brands, which includes vacation brands (Apple Leisure Group, Hyatt Ziva and Hyatt Zilara), the recently launched full-service lifestyle brand Hyatt Centric, the soft lifestyle brand Unbound, and the wellness brand Miraval.

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Microsoft

• The Trade: Microsoft Corporation MSFT CEO Satya Nadella sold a total of 56,999 shares at an average price of $257.71. The insider received around $14.69 million as a result of the transaction.
• What’s Happening: Guggenheim, last month, initiated coverage on Microsoft with a Neutral rating and announced a price target of $292.
• What Microsoft Does: Microsoft develops and licenses consumer and enterprise software. It is known for its Windows operating systems and Office productivity suite.

Have a look at our premarket coverage here .

Norfolk Southern

• The Trade: Norfolk Southern Corporation NSC President and CEO Alan H Shaw sold a total of 2,097 shares at an average price of $241.28. The insider received around $482.56 thousand from selling those shares.
• What’s Happening: Norfolk Southern, in July, reported second-quarter FY22 railway operating revenue growth of 16% year-over-year to $3.25 billion, beating the consensus of $3.13 billion.
• What Norfolk Southern Does: Class-I railroad Norfolk Southern operates in the Eastern United States. On roughly 21,000 miles of track, the firm hauls shipments of coal, intermodal traffic, and a diverse mix of automobile, agriculture, metal, chemical, and forest products