Disney, Nasdaq And 2 Other Stocks Insiders Are Selling

The S&P 500 recorded losses for the fourth session in a row 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.

Signet Jewelers

• The Trade: Signet Jewelers Limited SIG CEO Virginia Drosos sold a total of 10,000 shares at an average price of $73.62. The insider received around $736.18 thousand from selling those shares.
• What’s Happening: Signet Jewelers, during December, reported better-than-expected Q3 results and issued FY23 guidance above estimates.
• What Signet Jewelers Does: Signet Jewelers Ltd is a retailer of diamond jewelry. Its merchandise mix includes bridal, fashion, watches and others.

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Walt Disney Company

• The Trade: The Walt Disney Company DIS EVP, Control, Fin Plan & Tax Brent Woodford sold a total of 1,139 shares at an average price of $103.44. The insider received around $117.82 thousand from selling those shares.
• What’s Happening: Disney reported better-than-expected Q1 results.
• What Disney Does: Walt Disney owns the rights to some of the most globally recognized characters, from Mickey Mouse to Luke Skywalker.

Yelp

• The Trade: Yelp Inc. YELP Chief Technology Officer Sam Eaton sold a total of 22,413 shares at an average price of $30.49. The insider received around $683.47 thousand from selling those shares.
• What’s Happening: Yelp reported better-than-expected Q4 sales results and issued guidance.
• 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.

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Nasdaq

• The Trade: Nasdaq, Inc. NDAQ Executive Vice President Jeremy Skule sold a total of 2,100 shares at an average price of $57.93. The insider received around $121.65 thousand from selling those shares.
• What’s Happening: Nasdaq, last month, reported worse-than-expected Q4 EPS and sales results.
• 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 (30%).