HP, Roblox And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed higher by around 0.2% 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 President and CEO Laura Alber sold a total of 100,000 shares at an average price of $150.00. The insider received around $15 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

HP

• The Trade: HP Inc. HPQ 10% owner Warren E Buffett sold a total of 4,614,423 shares at an average price of $25.94. The insider received around $119.72 million from selling those shares.
• What’s Happening: HP reported in-line earnings for its third quarter this week, but lowered its earnings forecast for the full year.
• What HP Does: HP (formerly Hewlett-Packard) is a behemoth in the PC and printing markets. It has focused on these markets since it exited IT infrastructure in 2015 with the split from Hewlett Packard Enterprise.

Roblox

• The Trade: Roblox Corporation RBLX Director Gregory Baszucki sold a total of 8,333 shares at an average price of $26.16. The insider received around $217,987 from selling those shares.
• What’s Happening: Roblox acquired Speechly, a Finnish voice tech startup. Speechly offers real-time voice moderation, transcription services, and a Voice API for integrating AI voice technology into various products and experiences.
• What Roblox Does: Roblox operates an online video game platform that lets young gamers create, develop, and monetize games (or "experiences") for other players.

La-Z-Boy

• The Trade: La-Z-Boy Incorporated LZB Director Janet Kerr sold a total of 4,582 shares at an average price of $30.86. The insider received around $141,409 from selling those shares.
• What’s Happening: La-Z-Boy posted upbeat first-quarter results.
• What La-Z-Boy Does: La-Z-Boy Inc is a U.S.-based company that manufactures, distributes, and retails upholstery furniture products. It is a producer of reclining chairs and distributors of residential furniture in the U.S.

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