Seagate, Campbell Soup And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed lower by over 270 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.

Fox Corporation

• The Trade: Fox Corporation FOX Chair Keith Rupert Murdoch sold a total of 100,000 shares at an average price of $31.90. The insider received around $3.19 million from selling those shares.
• What’s Happening: Nexstar Media and Fox Corporation renewed And extend multi-year affiliation agreement.
• What Fox Corporation Does: Fox represents the assets not sold to Disney by predecessor firm, Twenty First Century Fox in 2019.

Have a look at our premarket coverage here

Campbell Soup

• The Trade: Campbell Soup Company CPB Senior VP and Controller Stanley Polomski sold a total of 8,000 shares at an average price of $43.35. The insider received around $346,767 from selling those shares.
• What’s Happening: Campbell Soup reported fourth-quarter FY23 sales growth of 4.2% year-on-year to $2.068 billion, marginally beating the analyst consensus of $2.06 billion.
• What Campbell Soup Does: With a history that dates back around 150 years, Campbell Soup is now a leading manufacturer and marketer of branded convenience food products, most notably soup.

Seagate Technology

• The Trade: Seagate Technology Holdings plc STX SVP, CLO & Corporate Secretary Katherine Schuelke sold a total of 7,832 shares at an average price of $63.10. The insider received around $494,162 from selling those shares.
• What’s Happening: Seagate priced $1.3 billion exchangeable senior unsecured notes.
• What Seagate Technology Does: Seagate is a leading supplier of hard disk drives for data storage to the enterprise and consumer markets.

Ollie's Bargain Outlet

• The Trade: Ollie's Bargain Outlet Holdings, Inc. OLLI VP, CIO Larry Kraus sold a total of 3,000 shares at an average price of $79.00. The insider received around $237,012 from selling those shares.
• What’s Happening: Ollie's Bargain Outlet reported better-than-expected second-quarter financial results and raised FY23 adjusted guidance above estimates.
• What Ollie's Bargain Outlet Does: Ollie's Bargain Outlet Holdings Inc is a retailer of brand-name merchandise at drastically reduced prices.

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