Alphabet, Micron Technology And 2 Other Stocks Insiders Are Selling

The Nasdaq settled lower for the second straight session 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.

Alphabet

• The Trade: Alphabet Inc. GOOG President, Global Affairs, CLO J. Kent Walker sold a total of 11,313 shares at an average price of $100.00. The insider received around $1.13 million from selling those shares.
• What’s Happening: The U.S. Justice Department has accused Google of abusing its dominance in the digital advertising space, per Reuters.
• What Alphabet Does: Alphabet is a holding company. Internet media giant Google is a wholly owned subsidiary.

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Ralph Lauren

• The Trade: Ralph Lauren Corporation RL President and CEO Patrice Louvet sold a total of 18,500 shares at an average price of $125.00. The insider received around $2.31 million as a result of the transaction.
• What’s Happening: Barclays upgraded Ralph Lauren from Equal-Weight to Overweight and raised the price target from $101 to $134.
• What Ralph Lauren Does: Founded by designer Ralph Lauren in 1967, Ralph Lauren Corp. designs, markets, and distributes lifestyle products in North America, Europe, and Asia.

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United Natural Foods

• The Trade: United Natural Foods, Inc. UNFI President Christopher Testa sold a total of 27,931 shares at an average price of $40.54. The insider received around $1.13 million from selling those shares.
• What’s Happening: United Natural Foods, last month, reported worse-than-expected Q1 EPS results.
• What United Natural Foods Does: United Natural Foods Inc is a wholesale distributor of natural, organic and specialty foods and nonfood products across North America.

Micron Technology

• The Trade: Micron Technology, Inc. MU SVP, General Counsel & Secretary Robert Beard sold a total of 3,000 shares at an average price of $61.25. The insider received around $183.75 thousand from selling those shares.
• What’s Happening: Micron, last month, reported worse-than-expected Q1 results.
• What Micron Technology Does: Micron historically focused on designing and manufacturing DRAM for PCs. The firm then expanded into the NAND flash memory market.