Intuit, Nordstrom And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed higher by around 250 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 $102.72. The insider received around $1.54 million from selling those shares.
• What’s Happening: The company announced positive data from its combination vaccine against influenza and Covid-19.
• What Moderna Does: Moderna is a commercial-stage biotech that was founded in 2010 and had its initial public offering in December 2018.

Have a look at our premarket coverage here

Patterson Companies

• The Trade: Patterson Companies, Inc. PDCO President – Dental Timothy Rogan sold a total of 9,260 shares at an average price of $29.75. The insider received around $275,525 from selling those shares.
• What’s Happening: Patterson Companies reported first-quarter net sales of $1.58 billion, up 3.5% Y/Y, almost in line with the consensus of $1.58 billion.
• What Patterson Companies Does: Patterson Companies Inc is a leading dental distributor and wholesaler of consumable products and equipment operating through two business segments, Patterson Dental, and Patterson Animal Health.

Intuit

• The Trade: Intuit Inc. INTU Director Raul Vazquez sold a total of 1,938 shares at an average price of $516.52. The insider received around $1 million from selling those shares.
• What’s Happening: Intuit reported fourth-quarter EPS of $1.65, which beat the analyst consensus estimate of $1.43, and sales of $2.71 billion, which beat the analyst consensus estimate of $2.64 billion.
• What Intuit Does: Intuit is a provider of small-business accounting software (QuickBooks), personal tax solutions (TurboTax), and professional tax offerings (Lacerte).

Nordstrom

• The Trade: Nordstrom, Inc. JWN President, Nordstrom Rack Gemma Lionello sold a total of 32,916 shares at an average price of $14.36. The insider received around $472,819 from selling those shares.
• What’s Happening: Nordstrom reported second-quarter earnings of 84 cents per share, which beat the analyst consensus estimate of 45 cents, a 3.7% increase over earnings of 81 cents per share from the same period last year.
• What Nordstrom Does: Nordstrom is a fashion retailer that operates about 94 department stores and approximately 250 off-price Nordstrom Rack stores.

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