Accenture, Fastly And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed higher on Monday. Investors, meanwhile, focused on some notable insider trades.

When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company’s prospects or that they view the stock as being overpriced. 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.

Accenture

• The Trade: Accenture plc ACN Chief Leadership & HR Officer Ellyn Shook sold a total of 5,250 shares at an average price of $315.00. The insider received around $1.65 million from selling those shares.
• What’s Happening: Accenture received a $94 million U.S. Army contract to maintain and transform the agency's Identity, Credential, and Access Management (ICAM) system.
• What Accenture Does: Accenture is a leading global IT-services firm that provides consulting, strategy, and technology and operational services.

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Southern Company

• The Trade: The Southern Company SO Chairman, President and CEO GPC Kimberly S Greene sold a total of 20,000 shares at an average price of $72.62. The insider received around $1.45 million from selling those shares.
• What’s Happening: Morgan Stanley recently reiterated Southern with an Underweight and maintained a $60 price target.
• What Southern Company Does: Southern is one of the largest utilities in the U.S. The company serves 9 million customers with vertically integrated electric utilities in three states and natural gas distribution utilities in four states.

Signet Jewelers

• The Trade: Signet Jewelers Limited SIG 10% owner Oded Edelman sold a total of 13,400 shares at an average price of $72.69. The insider received around $974,002 from selling those shares.
• What’s Happening: The company recently lowered FY24 guidance below consensus.
• What Signet Jewelers Does: Signet Jewelers Ltd is a retailer of diamond jewelry.

Fastly

• The Trade: Fastly, Inc. FSLY Executive Vice President Brett Shirk sold a total of 7,000 shares at an average price of $18.05. The insider received around $126,330 from selling those shares.
• What’s Happening: Fastly is expected to release financial results for the second quarter of 2023 on Aug. 2, 2023.
• What Fastly Does: Fastly operates a content delivery network, which is necessary for entities to provide faster and more reliable online content.

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