Tesla, HP And These 2 Other Stocks Insiders Are Selling

The Federal Reserve raised its target fed funds rate by 0.5% 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.

Tesla

• The Trade: Tesla, Inc. TSLA CEO Elon Musk sold a total of 21,995,000 shares at an average price of $162.81. The insider received around $3.58 billion from selling those shares.
• What’s Happening: Tesla is looking forward to drilling for new water sources to supply an expansion of its electric vehicle plant near Berlin, reported Reuters citing local authorities and the water association.
• What Tesla Does: Founded in 2003 and based in Palo Alto, California, Tesla is a vertically integrated sustainable energy company that also aims to transition the world to electric mobility by making electric vehicles.

Vail Resorts, DocuSign And This Leading Homebuilding Stock Trading 9 Times Earnings On CNBC's 'Final Trades'

Walmart

• The Trade: Walmart Inc. WMT 10% owner Alice Walton sold a total of 2,519,356 shares at an average price of $147.32. The insider received around $338.44 million as a result of the transaction.
• What’s Happening: Bernstein recently initiated coverage on Walmart with a Market Perform rating and announced a price target of $159.
• What Walmart Does: America's largest retailer by sales, Walmart operated over 10,500 stores under 46 banners at the end of fiscal 2022, selling a variety of general merchandise and grocery items.

Have a look at our premarket coverage here .

HP

• The Trade: HP Inc. HPQ Director Shumeet Banerji sold a total of 17,300 shares at an average price of $29.53. The insider received around $510.87 thousand from selling those shares.
• What’s Happening: HP, last month, reported Q4 financial results and issued Q1 guidance.
• What HP Does: HP Incorporated is a leading provider of computers, printers, and printer supplies.

Dropbox

• The Trade: Dropbox, Inc. DBX Chief Legal Officer Bart Volkmer sold a total of 10,264 shares at an average price of $22.79. The insider received around $233.94 thousand from selling those shares.
• What’s Happening: Credit Suisse, last month, initiated coverage on Dropbox with an Underperform rating and announced a price target of $20.
• What Dropbox Does: Dropbox is a leading provider of cloud-storage and content collaboration tools with an emphasis on individuals and SMB.