Xerox, J.B. Hunt Transport And 2 Other Stocks Insiders Are Selling

The S&P 500 closed higher on Friday, also recording gains for the month. 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.

J.B. Hunt Transport Services

• The Trade: J.B. Hunt Transport Services, Inc. JBHT EVP Highway Services Eric McGee sold a total of 1,200 shares at an average price of $175.30. The insider received around $210.36 thousand from selling those shares.
• What’s Happening: JB Hunt Transport posted downbeat quarterly results.
• What J.B. Hunt Transport Does: J.B. Hunt Transport Services ranks among the top surface transportation companies in North America by revenue.

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Omnicom Group

• The Trade: Omnicom Group Inc. OMC Director Linda Johnson Rice sold a total of 1,700 shares at an average price of $89.75. The insider received around $152.57 thousand from selling those shares.
• What’s Happening: Omnicom Group posted better-than-expected quarterly results.
• What Omnicom Group Does: Omnicom is the world's second-largest ad holding company, based on annual revenue.

Xerox Holdings

• The Trade: Xerox Holdings Corporation XRX Executive Vice President Jacquesedouard Gueden sold a total of 10,000 shares at an average price of $15.61. The insider received around $156.1 thousand from selling those shares.
• What’s Happening: Xerox reported better-than-expected Q1 adjusted EPS results and reiterated FY23 revenue guidance above analyst estimates.
• What Xerox Holdings Does: Xerox Holdings Corp is an original equipment manufacturing and software company. Xerox operates in one segment--design, development, and sale of printing technology and related solutions--while deriving 60% of its revenue from the U.S. and 40% from international markets.

MongoDB

• The Trade: MongoDB, Inc. MDB Director Dwight Merriman sold a total of 2,000 shares at an average price of $240.00. The insider received around $480 thousand from selling those shares.
• What’s Happening: MongoDB recently issued weak revenue guidance.
• What MongoDB Does: Founded in 2007, MongoDB is a document-oriented database with nearly 33,000 paying customers and well past 1.5 million free users.

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