SLB, Johnson & Johnson And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed lower on Thursday. 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.

Johnson & Johnson

• The Trade: Johnson & Johnson JNJ Exec VP, Chief HR Officer Peter Fasolo sold a total of 20,000 shares at an average price of $170.32. The insider received around $3.41 million from selling those shares.
• What’s Happening: Johnson & Johnson reported better-than-expected second-quarter financial results and raised its FY23 guidance above the consensus estimates.
• What Johnson & Johnson Does: Johnson & Johnson is the world's largest and most diverse healthcare firm. Three divisions make up the firm: pharmaceutical, medical devices and diagnostics, and consumer.

Have a look at our premarket coverage here

Schlumberger

• The Trade: Schlumberger Limited SLB Chief Accounting Officer Howard Guild sold a total of 17,500 shares at an average price of $57.97. The insider received around $1.01 million from selling those shares.
• What’s Happening: Schlumberger reported mixed results for its second quarter.
• What Schlumberger Does: SLB, formerly known as Schlumberger, is the largest oilfield service firm in the world, with expertise in myriad disciplines, including reservoir performance, well construction, production enhancement, and more recently, digital solutions.

Capital One Financial

• The Trade: Capital One Financial Corporation COF Senior Advisor to the CEO Kevin Borgmann sold a total of 9,790 shares at an average price of $116.99. The insider received around $1.15 million from selling those shares.
• What’s Happening: Capital One said second-quarter revenue increased 1% year-over-year to $9.01 billion, which missed the consensus estimate of $9.12 billion.
• What Capital One Financial Does: Capital One is a diversified financial services holding company headquartered in McLean, Virginia.

Kimberly-Clark

• The Trade: Kimberly-Clark Corporation KMB Chief Legal Officer Jeffrey P Melucci sold a total of 4,423 shares at an average price of $130.23. The insider received around $576,007 from selling those shares.
• What’s Happening: Kimberly-Clark reported second-quarter FY23 sales growth of 1% year-on-year to $5.1 billion, missing the analyst consensus estimate of $5.13 billion.
• What Kimberly-Clark Does: With more than half of sales from personal care and another third from tissue products, Kimberly-Clark sits as a leading manufacturer of the tissue and hygiene realm.

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