Costco, MongoDB And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed lower by around 280 points on Tuesday. 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.

Costco Wholesale

• The Trade: Costco Wholesale Corporation COST Daniel Hines sold a total of 1,400 shares at an average price of $662.81. The insider received around $927,934 from selling those shares.
• What’s Happening: Tigress Financial analyst Ivan Feinseth, last week, maintained Costco Wholesale with a Buy and raised the price target from $635 to $745.
• What Costco Does: Costco operates a membership-based, no-frills retail model, predicated on offering a select product assortment in bulk quantities at bargain prices.

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Waste Management

• The Trade: Waste Management, Inc. WM EVP, Corp Development & CLO Charles Boettcher sold a total of 2,371 shares at an average price of $179.50. The insider received around $425,595 from selling those shares.
• What’s Happening: Waste Management, last month, said its Board of Directors has approved a 7.1% increase in the planned quarterly dividend rate for 2024, from 70 cents to 75 cents per share.
• What Waste Management Does: WM ranks as the largest integrated provider of traditional solid waste services in the United States, operating 259 active landfills and about 337 transfer stations.

MongoDB

• The Trade: MongoDB, Inc. MDB Director Dwight Merriman sold a total of 2,375 shares at an average price of $415.54. The insider received around $986,908 from selling those shares.
• What’s Happening: MongoDB, last month, said third-quarter revenue increased 30% year-over-year to $432.9 million, which beat the consensus estimate of $403.65 million.
• What MongoDB Does: Founded in 2007, MongoDB is a document-oriented database with nearly 33,000 paying customers and well past 1.5 million free users.

Ally Financial

• The Trade: Ally Financial Inc. ALLY VP, CAO, Controller David Debrunner sold a total of 3,750 shares at an average price of $35.00. The insider received around $131,251 from selling those shares.
• What’s Happening: Barclays analyst Jason Goldberg maintained Ally Financial with an Equal-Weight and raised the price target from $32 to $43.
• What Ally Financial Does: Formerly the captive financial arm of General Motors, Ally Financial became an independent publicly traded firm in 2014 and is one of the largest consumer auto lenders in the country.

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