Procter & Gamble, Royal Caribbean Cruises And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed lower on Tuesday. 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.

Royal Caribbean Cruises

• The Trade: Royal Caribbean Cruises Ltd. RCL CFO Naftali Holtz sold a total of 5,949 shares at an average price of $110.62. The insider received around $658,119 from selling those shares.
• What’s Happening: Royal Caribbean Cruises reported second-quarter sales growth of 61.3% year-on-year to $3.52 billion, beating the consensus of $3.41 billion.
• What Royal Caribbean Cruises Does: Royal Caribbean is the world's second-largest cruise company, operating 64 ships across five global and partner brands in the cruise vacation industry, with 10 more ships on order through 2026.

Have a look at our premarket coverage here

Yelp

• The Trade: Yelp Inc. YELP CEO Jeremy Stoppelman sold a total of 30,000 shares at an average price of $45.00. The insider received around $1.35 million from selling those shares.
• What’s Happening: Craig-Hallum analyst Jason Kreyer initiated coverage on Yelp with a Buy rating and announced a price target of $54.
• What Yelp Does: Yelp Inc operates in the online content market based in the United States. It provides a web-based platform and mobile application to bridge the gap between businesses and consumers.

Moody's

• The Trade: Moody's Corporation MCO President, Moody's Investors Michael L West sold a total of 2,641 shares at an average price of $352.79. The insider received around $931,718 from selling those shares.
• What’s Happening: Moody's reported second-quarter FY23 sales growth of 8% year-on-year to $1.49 billion, beating the analyst consensus of $1.45 billion.
• What Moody's Does: Moody's, along with S&P Ratings, is a leading provider of credit ratings on fixed income securities. Moody's ratings segment, known as Moody's Investors Service or MIS, includes corporates, structured finance, financial institutions, and public finance ratings.

Procter & Gamble

• The Trade: The Procter & Gamble Company PG CEO - Baby, Fem & Family Care Ma. Fatima Francisco sold a total of 8,387 shares at an average price of $156.87. The insider received around $1.32 million from selling those shares.
• What’s Happening: Procter & Gamble reported fourth-quarter FY23 sales growth of 5% year-on-year to $20.55 billion, beating the analyst consensus of $19.98 billion.
• 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.

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