Robinhood, Shake Shack And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed higher by 0.2% 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.

Dover

• The Trade: Dover Corporation DOV Senior VP and CFO Brad M Cerepak sold a total of 18,410 shares at an average price of $163.01. The insider received around $3 million from selling those shares.
• What’s Happening: On Feb. 1, Dover reported fourth-quarter fiscal 2023 revenue of $2.106 billion, a decline of 1.6% year-over-year, missing the consensus of $2.16 billion.
• What Dover Does: Dover is a diversified manufacturer and solutions provider delivering equipment and components, consumable supplies, aftermarket parts, software digital solutions, and support services.

Have a look at our premarket coverage here

Signet Jewelers

• The Trade: Signet Jewelers Limited SIG Oded Edelman sold a total of 7,911 shares at an average price of $105.36. The insider received around $833,505 from selling those shares.
• What’s Happening: Signet Jewelers said it will announce its fourth quarter on March 20, 2024.
• What Signet Jewelers Does: Signet Jewelers Ltd is a retailer of diamond jewelry. Its merchandise mix includes bridal, fashion, watches and others.

Shake Shack

• The Trade: Shake Shack Inc. SHAK Director Michael C McQuinn sold a total of 30,000 shares at an average price of $100.12. The insider received around $3 million from selling those shares.
• What’s Happening: On Feb. 15, Shake Shack reported better-than-expected fourth-quarter financial results.
• What Shake Shack Does: Shake Shack Inc is a roadside burger stand. It is serving a classic American menu of premium burgers, hot dogs, crispy chicken, frozen custard, crinkle-cut fries, shakes, beer, wine and more.

Robinhood

• The Trade: Robinhood Markets, Inc. HOOD Chief Brokerage Officer Steven M. Quirk sold a total of 60,895 shares at an average price of $14.43. The insider received around $878,544 from selling those shares.
• What’s Happening: On Feb. 15, Robinhood Markets reported January 2024 operating data.
• What Robinhood Does: Robinhood Markets Inc is creating a modern financial services platform. It designs its own products and services and delivers them through a single, app-based cloud platform supported by proprietary technology.

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