Campbell Soup And 3 Other Stocks Insiders Are Selling

The Nasdaq Composite dropped by over 200 points on Thursday. 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.

Nordson

• The Trade: Nordson Corporation NDSN Executive Vice President Shelly Peet sold a total of 1,692 shares at an average price of $235.00. The insider received around $397.62 thousand from selling those shares.
• What’s Happening: The company recently posted upbeat Q4 results.
• What Nordson Does: Nordson is a manufacturer of equipment (including pumps, valves, dispensers, applicators, filters, and pelletizers, among other equipment) used for dispensing adhesives, coatings, sealants, and other materials.

Read More: Kellogg, United Natural Foods And 2 Other Stocks Insiders Are Selling

Campbell Soup

• The Trade: Campbell Soup Company CPB Executive Vice President Adam Ciongoli sold a total of 37,354 shares at an average price of $56.86. The insider received around $2.12 million as a result of the transaction.
• What’s Happening: Campbell Soup recently reported first-quarter FY23 sales growth of 15% year-on-year to $2.58 billion, beating the consensus of $2.45 billion.
• What Campbell Soup Does: With a history that dates back around 150 years, Campbell Soup is now a leading manufacturer and marketer of branded convenience food products, most notably soup.

Have a look at our premarket coverage here

Yelp

• The Trade: Yelp Inc. YELP Chief Operating Officer Joseph Nachman sold a total of 6,000 shares at an average price of $25.77. The insider received around $154.6 thousand from selling those shares.
• What’s Happening: JP Morgan recently downgraded Yelp from Neutral to Underweight and lowered the price target from $34 to $23.
• What Yelp Does: Yelp Inc operates in the online content market based primarily in the United States. It provides a web-based platform and mobile application to bridge the gap between businesses and consumers.

Toll Brothers

• The Trade: Toll Brothers, Inc. TOL CFO Martin Connor sold a total of 10,000 shares at an average price of $51.26. The insider received around $512.61 thousand from selling those shares.
• What’s Happening: Toll Brothers shares recently reported better-than-expected Q4 EPS and sales results.
• What Toll Brothers Does: Toll Brothers is the leading luxury homebuilder in the United States with an average sale price well above public competitors.