Nasdaq, PepsiCo And This Basic Material Stock Insiders Are Selling

US gold futures traded higher this morning on Wednesday. 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.

PepsiCo

• The Trade: PepsiCo, Inc. PEP Chairman and CEO Ramon Laguarta sold a total of 5,900 shares at an average price of $173.09. The insider received around $1.02 million from selling those shares.
• What’s Happening: PepsiCo recently reported third-quarter FY22 sales growth of 8.8% year-on-year to $21.97 billion, beating the consensus of $20.81 billion.
• What PepsiCo Does: PepsiCo is one of the largest food and beverage companies globally. It makes, markets, and sells a slew of brands across the beverage and snack categories, including Pepsi, Mountain Dew, Gatorade, Doritos, Lays, and Ruffles.

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Steel Dynamics

• The Trade: Steel Dynamics, Inc. STLD Director Keith Busse sold a total of 22,347 shares at an average price of $96.32. The insider received around $2.15 million as a result of the transaction.
• What’s Happening: The company recently reported better-than-expected Q3 EPS and sales results.
• What Steel Dynamics Does: Steel Dynamics operates scrap-based steel minimills with roughly 13 million tons of annual steel production capacity.

Nasdaq

• The Trade: Nasdaq, Inc. NDAQ Executive Vice President Jeremy Skule sold a total of 2,100 shares at an average price of $56.86. The insider received around $119.41 thousand from selling those shares.
• What’s Happening: The company recently posted upbeat quarterly results.
• What Nasdaq Does: Founded in 1971, Nasdaq is primarily known for its equity exchange, but in addition to its market-services business (about 35% of sales), the company sells and distributes market data as well as offers Nasdaq-branded indexes to asset managers and investors through its information-services segment (30%).