Hershey And 2 Other Stocks Insiders Are Selling

Better-than-expected nonfarm payroll figures released Friday have firmed expectations of a potential 75 bps rate hike at the Fed's July meeting. Investors, meanwhile, focused on some notable insider trades.

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.

Moderna

• The Trade: Moderna, Inc. MRNA Director Noubar B. Afeyan sold a total of 10,000 shares at an average price of $154.85. The insider received around $1.55 million from selling those shares.
• What’s Happening: The company’s stock tumbled around 25% over the past six months.
• What Moderna Does: Moderna is a commercial-stage biotech that was founded in 2010 and had its initial public offering in December 2018.

Also check this: $698 Million Bet On This Energy Stock? 3 Stocks Insiders are Buying

Hershey Company

• The Trade: The Hershey Company HSY Director, Chairman, President and CEO Michele Buck sold a total of 5,000 shares at an average price of $220.49. The insider received around $1.1 million as a result of the transaction.
• What’s Happening: The company’s shares gained 3% over the previous month.
• What Hershey Does: Hershey is a leading confectionery manufacturer in the U.S. (around a $25 billion market), controlling around 46% of the domestic chocolate space (per IRI).

Have a look at our premarket coverage here .

Interactive Brokers Group

• The Trade: Interactive Brokers Group, Inc. IBKR Chairman Thomas Peterffy sold a total of 40,000 shares at an average price of $56.23. The insider received around $2.25 million from selling those shares.
• What’s Happening: Interactive Brokers Group is expected to announce its second quarter financial results on Tuesday, July 19, 2022.
• What Interactive Brokers Group Does: Interactive Brokers Group Inc, or IB, conducts broker-dealer agency business and proprietary trading business worldwide.