Visa, KeyCorp And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed higher by around 0.4% 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 EVP Chief Talent Officer Karalyn Smith sold a total of 1,945 shares at an average price of $179.85. The insider received around $349,808 from selling those shares. The company’s CEO POTTERY BARN BRANDS Marta Benson also disposed a total of 5374 shares.
• What’s Happening: Williams-Sonoma reported better-than-expected third-quarter adjusted earnings.
• What Williams-Sonoma Does: With a retail and direct-to-consumer presence, Williams-Sonoma is a player 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

Visa

• The Trade: Visa Inc. V PRESIDENT, TECHNOLOGY Rajat Taneja sold a total of 7,811 shares at an average price of $253.17. The insider received around $1.98 million from selling those shares.
• What’s Happening: Paysafe extended its collaboration in Europe with Visa to use the latter’s Network Tokens as an alternative to primary credit and debit card account numbers, as reported on its website.
• What Visa Does: Visa is the largest payment processor in the world. In fiscal 2022, it processed over $14 trillion in total volume.

KeyCorp

• The Trade: KeyCorp KEY Director Carlton L Highsmith sold a total of 10,000 shares at an average price of $12.28. The insider received around $122,800 from selling those shares.
• What’s Happening: KeyCorp reported third-quarter FY23 revenues of $1.566 billion, down 17.0% Y/Y, in line with the consensus.
• What KeyCorp Does: With assets of over $170 billion, Ohio-based KeyCorp's bank footprint spans 16 states, but it is predominantly concentrated in its two largest markets: Ohio and New York.

Sprouts Farmers Market

• The Trade: Sprouts Farmers Market, Inc. SFM CEO Jack Sinclair sold a total of 61,092 shares at an average price of $40.93. The insider received around $2.5 million from selling those shares.
• What’s Happening: Sprouts Farmers Market reported third-quarter FY23 sales growth of 7.7% year-on-year to $1.71 billion, beating the analyst consensus estimate of $1.68 billion.
• What Sprouts Farmers Market Does: Sprouts Farmers Market is an American specialty grocer offering an assortment highlighting fresh and naturally derived products.

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