Nasdaq, Estée Lauder And 2 Other Stocks Insiders Are Selling

The Nasdaq settled lower on Tuesday. 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.

Estée Lauder Companies

• The Trade: The Estée Lauder Companies Inc. EL President and CEO Fabrizio Freda sold a total of 11,705 shares at an average price of $270.00. The insider received around $3.16 million from selling those shares.
• What’s Happening: Stifel maintained Estee Lauder with a Buy and raised the price target from $255 to $295.
• What Estée Lauder Does: Estee Lauder is the world leader in the global prestige beauty market, participating across skincare (56% of fiscal 2022 sales), makeup (26%), fragrance (14%), and haircare (4%) categories, with popular brands such as Estee Lauder, Clinique, MAC, La Mer, Jo Malone, Aveda, Bobbi Brown, Too Faced, Origins, Dr. Jart+, and The Ordinary.

Check This Out: 5 Consumer Stocks That Are Diving - And May Rally

Marriott Vacations Worldwide

• The Trade: Marriott Vacations Worldwide Corporation VAC Exec. VP and CIO Dwight Smith sold a total of 2,627 shares at an average price of $157. The insider received around $412.44 thousand as a result of the transaction.
• What’s Happening: Marriott Vacations Worldwide recently reported the promotion of Stephanie Sobeck Butera to the position of Executive Vice President and Chief Operating Officer of Hyatt Vacation Ownership.
• What Marriott Vacations Worldwide Does: Marriott Vacations Worldwide Corp functions in the United States leisure industry. It owns and manages a cluster of resorts and accommodation facilities under trademarks like Marriott Vacation Club, Grand Residencies and The Ritz-Carlton Destination Club predominantly in the United States.

Have a look at our premarket coverage here

Nasdaq

• The Trade: Nasdaq, Inc. NDAQ Executive Vice President Jeremy Skule sold a total of 2,100 shares at an average price of $61.75. The insider received around $129.68 thousand from selling those shares.
• What’s Happening: Nasdaq is set to give its latest quarterly earnings report on Wednesday, Jan. 25, 2023.
• What Nasdaq Does: Founded in 1971, Nasdaq is primarily known for its equity exchange, but in addition to its market-services business (about 35% of sales), the company sells and distributes market data as well as offers Nasdaq-branded indexes to asset managers and investors through its information-services segment.

MGM Resorts International

• The Trade: MGM Resorts International MGM Chief Operating Officer Ian Corey Sanders sold a total of 60,000 shares at an average price of $40.00. The insider received around $2.4 million from selling those shares.
• What’s Happening: Morgan Stanley recently maintained MGM Resorts with an Equal-Weight and raised the price target from $39 to $40.
• What MGM Resorts Does: MGM Resorts is the largest resort operator on the Las Vegas Strip with 35,000 guest rooms and suites, representing about one fourth of all units in the market.