Procter & Gamble, Crocs And These 2 Stocks Insiders Are Selling

The Nasdaq Composite closed slightly lower 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.

Crocs

• The Trade: Crocs, Inc. CROX CEO Andrew Rees sold a total of 10,000 shares at an average price of $150.05. The insider received around $1.5 million from selling those shares.
• What’s Happening: Crocs reported fourth-quarter FY22 sales growth of 61.1% year-on-year to $945.16 million, beating the consensus of $939.26 million.
• What Crocs Does: Crocs Inc is engaged in the design, development, marketing, distribution, and sale of casual lifestyle footwear accessories for men, women, and children.

Have a look at our premarket coverage here

Procter & Gamble

• The Trade: The Procter & Gamble Company PG CEO - Baby, Fem & Family Care Ma. Fatima Francisco sold a total of 8,000 shares at an average price of $156.84. The insider received around $1.25 million from selling those shares.
• What’s Happening: Proctor & Gamble reported better-than-expected Q3 adjusted EPS and sales results and raised its FY23 all-in sales guidance.
• What Procter & Gamble Does: Since its founding in 1837, Procter & Gamble has become one of the world's largest consumer product manufacturers, generating more than $80 billion in annual sales.

Progressive Corporation

• The Trade: The Progressive Corporation PGR Chief Information Officer Steven Broz sold a total of 930 shares at an average price of $137.79. The insider received around $128.14 thousand from selling those shares.
• What’s Happening: Progressive announced its Q1 earnings of 0.65 per share compared to the analyst consensus estimate of $1.37 per share.
• What Progressive Does: Progressive underwrites private and commercial auto insurance and specialty lines; it has about 18 million personal auto policies in force and is one of the largest auto insurers in the United States.

Simpson Manufacturing

• The Trade: Simpson Manufacturing Co., Inc. SSD Director Winifred Karen Colonias sold a total of 15,000 shares at an average price of $115.76. The insider received around $1.74 million from selling those shares.
• What’s Happening: Simpson Manufacturing posted better-than-expected quarterly results.
• What Simpson Manufacturing Does: Simpson Manufacturing Co Inc is a manufacturer of wood construction products.

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