Kellogg, United Natural Foods And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 index rose around 1.5% 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.

Kellogg

• The Trade: Kellogg Company K 10% owner Kellogg W K Foundation sold a total of 100,000 shares at an average price of $70.74. The insider received around $7.07 million from selling those shares.
• What’s Happening: Kellogg recently announced a $1.5 billion buyback program.
• What Kellogg Does: Founded in 1906, Kellogg is a leading global manufacturer and marketer of cereal, cookies, crackers, and other packaged foods.

Read More: CNN Fear & Greed Index Remains In 'Fear' Zone Despite Dow Jumping Over 500 Points

United Natural Foods

• The Trade: United Natural Foods, Inc. UNFI Chief Accounting Officer Eric Richard Esper sold a total of 5,250 shares at an average price of $38.00. The insider received around $199.5 thousand as a result of the transaction.
• What’s Happening: United Natural Foods recently reported worse-than-expected Q1 EPS results.
• What United Natural Foods Does: United Natural Foods Inc is a wholesale distributor of natural, organic and specialty foods and nonfood products across North America.

Have a look at our premarket coverage here

Teradyne

• The Trade: Teradyne, Inc. TER CEO Mark Jagiela sold a total of 67,631 shares at an average price of $87.60. The insider received around $5.92 million from selling those shares.
• What’s Happening: Teradyne, last month, appointed Gregory Smith as CEO.
• What Teradyne Does: Teradyne provides testing equipment, including automated test equipment for semiconductors, system testing for hard disk drives, circuit boards, and electronics systems and wireless testing for devices.

Nucor

• The Trade: Nucor Corporation NUE Chair, President and CEO Leon Topalian sold a total of 3,000 shares at an average price of $134.71. The insider received around $404.13 thousand from selling those shares.
• What’s Happening: Nucor recently issued Q4 EPS guidance below estimates.
• What Nucor Does: Nucor Corp manufactures steel and steel products. The company also produces direct reduced iron for use in its steel mills.