McKesson, Kinder Morgan 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.

Kinder Morgan

• The Trade: Kinder Morgan, Inc. KMI V.P. (Pres.,Nat Gas Pipelines) Sital K Mody sold a total of 55,849 shares at an average price of $17.36. The insider received around $969,578 from selling those shares.
• What’s Happening: Kinder Morgan posted weaker-than-expected second-quarter sales.
• What Kinder Morgan Does: Kinder Morgan is one of the largest midstream energy firms in North America, with an interest in or an operator on about 83,000 miles in pipelines and 140 storage terminals.

Have a look at our premarket coverage here

Unum Group

• The Trade: Unum Group UNM EVP, VB & President, Colonial Gerald Timothy Arnold sold a total of 20,000 shares at an average price of $50.00. The insider received around $1 million from selling those shares.
• What’s Happening: The company reported better-than-expected second-quarter financial results.
• What Unum Group Does: Unum Group is a provider of group and individual income protection insurance products in the United States, the United Kingdom, Poland, and other countries.

Pinterest

• The Trade: Pinterest, Inc. PINS Former Chief Financial Officer Todd Morgenfeld sold a total of 384,615 shares at an average price of $27.52. The insider received around $5.01 million from selling those shares.
• What’s Happening: Pinterest said second-quarter revenue increased 6% year-over-year to $708 million, which beat the consensus estimate of $696.06 million.
• What Pinterest Does: Pinterest is an online product and idea discovery platform that helps users gather ideas on everything from recipes to cook to destinations to travel to.

McKesson

• The Trade: McKesson Corporation MCK CEO Brian Tyler sold a total of 3,938 shares at an average price of $422.60. The insider received around $1.66 million from selling those shares.
• What’s Happening: McKesson posted upbeat quarterly results.
• What McKesson Does: McKesson Corp is one of three leading pharmaceutical wholesalers in the U.S. engaged in sourcing and distributing branded, generic, and specialty pharmaceutical products to pharmacies (retail chains, independent, and mail order), hospitals networks, and healthcare providers.

Check This Out: Eli Lilly, Beyond Meat And 3 Stocks To Watch Heading Into Tuesday