Adobe, AutoZone And This Consumer Cyclical Stock Insiders Are Selling

The Dow Jones jumped by more than 100 points 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.

AutoZone

• The Trade: AutoZone, Inc. AZO Chairman, President and CEO William C. Rhodes III sold a total of 14,528 shares at an average price of $2,271.56. The insider received around $33 million from selling those shares.
• What’s Happening: AutoZone Board of Directors recently authorized the repurchase of an additional $2.5 billion in shares in connection with its ongoing share repurchase program.
• What AutoZone Does: AutoZone is the premier seller of aftermarket automotive parts, tools, and accessories to do-it-yourself customers in the United States.

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RH

• The Trade: RH RH Director Eri Chaya sold a total of 10,000 shares at an average price of $266.55. The insider received around $2.67 million as a result of the transaction.
• What’s Happening: JP Morgan, last month, maintained RH with an Overweight and raised the price target from $300 to $325..
• What RH Does: RH is a luxury retailer operating in the $118 billion domestic furniture and home furnishing industry.

Have a look at our premarket coverage here .

Adobe

• The Trade: Adobe Inc. ADBE Director John Warnock sold a total of 3,500 shares at an average price of $286.11. The insider received around $1 million from selling those shares.
• What’s Happening: MoffettNathanson recently initiated coverage on Adobe with a Hold rating and announced a price target of $354.
• What Adobe Does: Adobe provides content creation, document management, and digital marketing and advertising software and services to creative professionals and marketers for creating, managing, delivering, measuring, optimizing and engaging with compelling content multiple operating systems, devices and media.