Nvidia, Gap And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed higher on Wednesday. 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.

Williams-Sonoma

• The Trade: Williams-Sonoma, Inc. WSM CEO POTTERY BARN BRANDS Marta Benson sold a total of 10,000 shares at an average price of $140.68. The insider received around $1.41 million from selling those shares.
• What’s Happening: Williams-Sonoma reported better-than-expected second-quarter earnings
• What Williams-Sonoma Does: With a wide retail and direct-to-consumer presence, Williams-Sonoma is a leader in the $300 billion domestic home category, focused on expanding its exposure in the B2B, marketplace, and franchise areas.

Have a look at our premarket coverage here

Gap

• The Trade: The Gap, Inc. GPS EVP, CFO Katrina O'Connell sold a total of 24,509 shares at an average price of $10.36. The insider received around $253,957 from selling those shares.
• What’s Happening: Gap reported better-than-expected second-quarter adjusted EPS results and issued FY23 net sales guidance.
• What Gap Does: Gap retails apparel, accessories, and personal-care products under the Gap, Old Navy, Banana Republic, and Athleta brands.

Herbalife

• The Trade: Herbalife Ltd. HLF EVP & Chief of Staff Ibelis Montesino sold a total of 10,096 shares at an average price of $15.16. The insider received around $153,015 from selling those shares.
• What’s Happening: Herbalife reported better-than-expected second-quarter financial results.
• What Herbalife Does: Herbalife Ltd is an international nutrition company that provides health and wellness products to consumers in 95 markets, which consists of countries and territories, through their direct-selling business model.

NVIDIA

• The Trade: NVIDIA Corporation NVDA Director Mark A Stevens sold a total of 52,175 shares at an average price of $480.91. The insider received around $25.09 million from selling those shares. The company’s EVP & Chief Financial Officer also sold 4,980 shares.
• What’s Happening: The company announced an expanded partnership with Google parent Alphabet, Inc. to advance AI computing and software on Tuesday.
• What NVIDIA Does: Nvidia is a leading developer of graphics processing units. Traditionally, GPUs were used to enhance the experience on computing platforms, most notably in gaming applications on PCs. GPU use cases have since emerged as important semiconductors used in artificial intelligence.

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