4 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.

Target

• The Trade: Target Corporation TGT Executive Officer John Mulligan disposed a total of 28918 shares at an average price of $223.60. The insider received $6,466,006.90 as a result of the transaction.
• What’s Happening: Target, last month, reported third-quarter FY21 total revenue growth of 13.3% year-on-year, to $25.65 billion.
• What Target Does: With 1,897 stores (as of the end of fiscal 2020), Target is a leading American general merchandise retailer, offering a variety of products across several categories, including beauty and household essentials (26% of fiscal 2020 sales), food and beverage (20%), home furnishings and décor (20%), hardlines (18%), and apparel and accessories (16%).

Trade Desk

• The Trade: The Trade Desk, Inc TTD CFO Blake Jeffrey Grayson sold a total of 40111 shares at an average price of $87.33. The insider received $3,502,696.01 from selling those shares. The insider also bought a total of 9000 shares.
• What’s Happening: Needham, earlier during the month, maintained Trade Desk with a Buy and raised the price target from $100 to $115.
• What Trade Desk Does: The Trade Desk Inc is engaged in providing a technology platform for ad buyers. Through its cloud-based platform ad buyers can create, manage, and optimize data-driven digital advertising campaigns across ad formats and channels, including display, video, audio, in-app, native and social, on a multitude of devices.

Snap

• The Trade: Snap Inc. SNAP Chief Business Officer Jeremi Gorman sold a total of 51425 shares at an average price of $44.47. The insider received $2,286,615.87 as a result of the transaction.
• What’s Happening: JP Morgan recently maintained Snap with an Overweight and lowered the price target from $73 to $65.
• What Snap Does: Snap, which refers to itself as a camera company, has one of the most popular social networking apps, Snapchat, in developed regions such as North America and Europe.

Charles Schwab

• The Trade: The Charles Schwab Corporation SCHW Chairman Charles Schwab sold a total of 372428 shares at an average price of $80.61. The insider received $4,836,882.00 from selling those shares.
• What’s Happening: Shares of Charles Schwab recently traded at a new 12-month high today of $85.75.
• What Charles Schwab Does: Charles Schwab operates in the brokerage, banking, and asset-management businesses. The company runs a large network of brick-and-mortar brokerage branch offices and a well-established online investing website.