Walmart, Verizon And 2 Other Stocks Insiders Are Selling

The S&P 500 closed higher 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.

F5

• The Trade: F5, Inc. FFIV Director Michael Dreyer sold a total of 2,750 shares at an average price of 143.19. The insider received around $393.78 thousand from selling those shares.
• What’s Happening: F5 said it is reducing its global headcount by approximately 620 employees, or approximately 9% of its total workforce.
• What F5 Does: F5 is a market leader in the application delivery controller market.

Have a look at our premarket coverage here

C3.ai

• The Trade: C3.ai, Inc. AI Director Richard Levin sold a total of 24,000 shares at an average price of $30.26. The insider received around $726.24 thousand from selling those shares.
• What’s Happening: C3.ai recently reported strong preliminary financial results.
• What C3.ai Does: C3.ai Inc is an enterprise artificial intelligence company. The company provides software-as-a-service applications that enable customers to rapidly develop, deploy, and operate large-scale Enterprise AI applications across any infrastructure.

Walmart

• The Trade: Walmart Inc. WMT Executive Vice President Daniel Bartlett sold a total of 6,600 shares at an average price of $147.78. The insider received around $975.37 thousand from selling those shares.
• What’s Happening: Walmart reported first-quarter FY24 sales growth of 7.6% year-on-year to $152.30 billion, beating the analyst consensus estimate of $148.65 billion.
• What Walmart Does: America's largest retailer by sales, Walmart operated over 10,500 stores globally at the end of fiscal 2023, selling a variety of general merchandise and grocery items.

Verizon Communications

• The Trade: Verizon Communications Inc. VZ EVP&Pres-Global Networks&Tech Joseph J Russo sold a total of 7,585 shares at an average price of $36.30. The insider received around $275.34 thousand from selling those shares.
• What’s Happening: Verizon Communications reported a first-quarter FY23 sales decline of 1.9% year-on-year to $32.9 billion, missing the consensus of $33.6 billion.
• What Verizon Communications Does: Verizon is primarily a wireless business (nearly 80% of revenue and nearly all operating income).

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