HP, Jabil And This Industrial Stock Insiders Are Selling

The Nasdaq dropped by more than 100 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.

Jabil

• The Trade: Jabil Inc. JBL EVP, CFO Michael Dastoor sold a total of 9,097 shares at an average price of $77.89. The insider received around $708.58 thousand from selling those shares.
• What’s Happening: Jabil, during December, reported first-quarter FY23 revenue growth of 12.5% year-on-year to $9.64 billion, beating the consensus of $9.33 billion.
• What Jabil Does: Jabil Inc is a United States-based company engaged in providing manufacturing services and solutions.

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HP

• The Trade: HP Inc. HPQ CFO Marie Myers sold a total of 7,380 shares at an average price of $29.04. The insider received around $214.32 thousand as a result of the transaction.
• What’s Happening: HP, during November, announced plans to reduce global headcount by 4,000-6,000.
• What HP Does: HP (formerly Hewlett-Packard) is a behemoth in the PC and printing markets. It has focused on these markets since it exited IT infrastructure in 2015 with the split from Hewlett Packard Enterprise.

Have a look at our premarket coverage here

Schneider National

• The Trade: Schneider National, Inc. SNDR Chief Innov. & Tech. Officer Shaleen Devgun sold a total of 10,000 shares at an average price of $27.00. The insider received around $270 thousand from selling those shares.
• What’s Happening: Schneider National Chair Adam P. Godfrey retired on January 30 on expiry of term.
• What Schneider National Does: Schneider National ranks among the largest U.S. full-truckload carriers, including its for-hire and dedicated operations (50% of total revenue).