Insiders Selling Roblox And 2 Other Stocks

The Nasdaq Composite closed higher by 0.4% on Monday. 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.

Kellogg

• The Trade: Kellogg Company K 10% owner Kellogg W K Foundation sold a total of 100,000 shares at an average price of $65.22. The insider received around $6.52 million from selling those shares.
• What’s Happening: Kellogg reported fourth-quarter FY22 sales growth of 12% year-on-year to $3.83 billion, beating the consensus of $3.66 billion.
• What Kellogg Does: Founded in 1906, Kellogg is a leading global manufacturer and marketer of cereal, cookies, crackers, and other packaged foods.

Have a look at our premarket coverage here

Roblox

• The Trade: Roblox Corporation RBLX Chief Product Officer Manuel Bronstein sold a total of 5,335 shares at an average price of $45.00. The insider received around $240.07 thousand from selling those shares.
• What’s Happening: Roblox estimated Feb. average bookings per DAU were down 2-4% year over year.
• What Roblox Does: Roblox operates an online video game platform that lets young gamers create, develop, and monetize games (or "experiences") for other players.

Diodes

• The Trade: Diodes Incorporated DIOD Director Michael Giordano sold a total of 10,000 shares at an average price of $90.00. The insider received around $900 thousand from selling those shares.
• What’s Happening: Diodes posted better-than-expected quarterly results.
• What Diodes Does: Diodes Inc is a manufacturer and supplier of high-quality application-specific products within the broad discrete, logic, analog, and mixed-signal semiconductor markets.

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