5 Stocks Insiders Are Selling

When insiders sell shares, it indicates their concern in the company’s prospects or that they view the stock as being overpriced. Either way, this signals an opportunity to go short on the stock. 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.

Interactive Brokers

The Trade: Interactive Brokers Group, Inc. IBKR Chairman Thomas Peterffy disposed a total of 40000 shares at an average price of $64.09. The insider received $2,563,525.00 as a result of the transaction.

What’s Happening: Interactive Brokers Group reported 2.17 million daily average revenue trades for August 2021.

What Interactive Brokers Does: Interactive Brokers Group, or IB, conducts broker-dealer agency business and proprietary trading business worldwide.

ServiceNow

The Trade: ServiceNow, Inc. NOW Director Frederic B Luddy sold a total of 22982 shares at an average price of $666.50. The insider received $10,997,268.93 from selling those shares.

What’s Happening: Wipro and ServiceNow, last month, collaborated to launch @now Studio at Wipro's Technology Center in Plano, Texas.

What ServiceNow Does: ServiceNow Inc provides software solutions to structure and automate various business processes via a SaaS delivery model.

Wendy's

The Trade: The Wendy's Company WEN Director Peter W May sold a total of 278275 shares at an average price of $22.89. The insider received $6,369,440.47 as a result of the transaction.

What’s Happening: Wendy's, last month, reported second-quarter FY21 sales growth of 22.6% year-on-year, to $493.3 million, beating the analyst consensus of $461.63 million.

What Wendy's Does: The Wendy's Co is a quick-service restaurant franchisor, operating restaurants under the brand name Wendy's.

Elastic

The Trade: Elastic N.V. ESTC Director Steven Schuurman, BV Cmxi sold a total of 500000 shares at an average price of $165.35. The insider received $82,675,000.00 from selling those shares.

What’s Happening: Elastic, last month, reported better-than-expected Q1 results.

What Elastic Does: Elastic NV is a search company. It created the Elastic Stack, a powerful set of software products that ingest and store data from any source and in any format, and perform search, analysis, and visualization in milliseconds or less.

Walmart

The Trade: Walmart Inc WMT 10% owner Alice Walton sold a total of 2000962 shares at an average price of $147.11. The insider received $294,353,263.63 from selling those shares.

What’s Happening: Walmart, Amazon and Kroger said they will sell COVID-19 tests at cost for the next three months, Reuters reported.

What Walmart Does: America's largest retailer by sales, Walmart operated over 11,400 stores under 54 banners at the end of fiscal 2021, selling a variety of general merchandise and grocery items.