US crude oil futures traded lower this morning on Thursday. 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.
McKesson
- The Trade: McKesson Corporation MCK EVP, Chief Legal Officer & GC Lori Schechter sold a total of 2,500 shares at an average price of $347.13. The insider received around $867.83 thousand from selling those shares.
- What’s Happening: McKesson recently extended pharmaceutical distribution agreement with CVS Health through 2027.
- What McKesson Does: McKesson is a leading wholesaler of branded, generic, and specialty pharmaceutical products to pharmacies (retail chains, independent, and mail order), hospitals networks, and healthcare providers.
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Darden Restaurants
- The Trade: Darden Restaurants, Inc. DRI Director Mensah Nana sold a total of 1,000 shares at an average price of $128.47. The insider received around $128.47 thousand as a result of the transaction.
- What’s Happening: Keybanc recently maintained Darden Restaurants with an Overweight and raised the price target from $136 to $150.
- What Darden Restaurants Does: Darden Restaurants is the largest restaurant operator in the U.S. full-service space, with consolidated revenue of $9.6 billion in fiscal 2022 resulting in 3%-4% full-service market share (per NRA data and our calculations).
Have a look at our premarket coverage here .
ZoomInfo Technologies
- The Trade: ZoomInfo Technologies Inc. ZI CFO Cameron Peter Hyzer sold a total of 5,000 shares at an average price of $43.39. The insider received around $216.93 thousand from selling those shares.
- What’s Happening: Morgan Stanley recently assumed ZoomInfo Technologies with an Overweight rating and announced a price target of $66.
- What ZoomInfo Technologies Does: ZoomInfo Technologies Inc provides a go-to-market intelligence platform for sales and marketing teams.
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