Workday, Alaska Air And 2 Other Stocks Insiders Are Selling

The S&P 500 closed higher on Friday. 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.

Willis Lease Finance

• The Trade: Willis Lease Finance Corporation WLFC Executive Chairman Charles F. Willis IV sold a total of 5,000 shares at an average price of $41.99. The insider received around $209.96 thousand from selling those shares.
• What’s Happening: Willis Lease Finance reported aircraft base maintenance approvals.
• What Willis Lease Finance Does: Willis Lease Finance Corp with its subsidiaries is a lessor and servicer of commercial aircraft and aircraft engines.
• Have a look at our premarket coverage here

Workday

• The Trade: Workday, Inc. WDAY Director Christa Davies sold a total of 33,333 shares at an average price of $213.21. The insider received around $7.11 million from selling those shares.
• What’s Happening: Workday reported better-than-expected quarterly results.
• What Workday Does: Workday is a software company that offers human capital management, or HCM, financial management, and business planning solutions.

Alaska Air Group

• The Trade: Alaska Air Group, Inc. ALK CEO and President Benito Minicucci sold a total of 5,000 shares at an average price of $48.73. The insider received around $243.66 thousand from selling those shares.
• What’s Happening: Alaska Air Group reported first-quarter FY23 operating revenue growth of 31% year-over-year to $2.196 billion, marginally beating the consensus of $2.19 billion.
• What Alaska Air Group Does: Alaska Air Group Inc operates two airlines, Alaska and Horizon in three operating segments.

ON Semiconductor

• The Trade: ON Semiconductor Corporation ON CEO and President Hassane Elkhoury sold a total of 22,500 shares at an average price of $90.01. The insider received around $2.03 million from selling those shares.
• What’s Happening: Deutsche Bank recently maintained ON Semiconductor with a Buy and raised the price target from $95 to $100.
• What ON Semiconductor Does: Onsemi is a supplier of power semiconductors and sensors focused on the automotive and industrial markets.

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