CarMax, Walmart And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed higher by more than 200 points on Friday. Investors, meanwhile, focused on some notable insider trades.

When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company’s prospects or that they view the stock as being overpriced. 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.

Moderna

• The Trade: Moderna, Inc. MRNA Director Noubar B. Afeyan sold a total of 15,000 shares at an average price of $121.54. The insider received around $1.82 million from selling those shares.
• What’s Happening: Moderna submitted regulatory application to the European Medicines Agency for updated COVID-19 vaccine.
• What Moderna Does: Moderna is a commercial-stage biotech that was founded in 2010 and had its initial public offering in December 2018.

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DoorDash

• The Trade: DoorDash, Inc. DASH Director Shona Brown sold a total of 1,779 shares at an average price of $74.87. The insider received around $133,194 from selling those shares.
• What’s Happening: DoorDash is offering more choices for consumers and more choices for Dashers at roughly the same cost to the company.
• What DoorDash Does: Founded in 2013 and headquartered in San Francisco, DoorDash is an online food order demand aggregator. Consumers can use its app to order food on-demand for pickup or delivery from merchants mainly in the U.S.

CarMax

• The Trade: CarMax, Inc. KMX EVP, General Counsel & CHRO Diane Cafritz sold a total of 1,706 shares at an average price of $83.85. The insider received around $143,048 from selling those shares.
• What’s Happening: CarMax reported better-than-expected first-quarter EPS and sales results.
• What CarMax Does: CarMax sells, finances, and services used and new cars through a chain of about 240 used retail stores. It was formed in 1993 as a unit of Circuit City and spun off into an independent company in late 2002.

Walmart

• The Trade: Walmart Inc. WMT Executive Vice President John Furner sold a total of 4,375 shares at an average price of $154.73. The insider received around $676,944 from selling those shares.
• What’s Happening: Real Good Food Company is expanding its Breaded Chicken and Asian Entrees platforms into Walmart stores nationwide.
• What Walmart Does: America's largest retailer by sales, Walmart operated over 10,500 stores globally at the end of fiscal 2023, selling a variety of general merchandise and grocery items.

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