McDonald's, Moderna And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed slightly lower on Friday. 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.

Snap

• The Trade: Snap Inc. SNAP General Counsel Michael Osullivan sold a total of 13,000 shares at an average price of $10.33. The insider received around $134,285 from selling those shares.
• What’s Happening: Snap announced a significant leadership change in its India operations.
• What Snap Does: Snap, which refers to itself as a camera company, has one of the most popular social networking apps, Snapchat, in developed regions such as North America and Europe.

Have a look at our premarket coverage here

• Moderna

• The Trade: Moderna, Inc. MRNA Director Noubar B. Afeyan sold a total of 15,000 shares at an average price of $115.46. The insider received around $1.73 million from selling those shares.
• What’s Happening: Moderna reportedly entered a cancer collaboration with CARsgen.
• What Moderna Does: Moderna is a commercial-stage biotech that was founded in 2010 and had its initial public offering in December 2018.

McDonald's

• The Trade: McDonald's Corporation MCD EVP - Chief People Officer Heidi Capozzi sold a total of 1,042 shares at an average price of $282.54. The insider received around $194,388 from selling those shares.
• What’s Happening: McDonald’s Japan arm announced the introduction of a new theme to their Happy Set, inspired by the popular manga “Spy x Family”.
• What McDonald's Does: McDonald's is the largest restaurant owner-operator in the world, with 2022 system sales of $116 billion (by our estimates) across more than 40,000 stores and 115 markets.

United States Steel

• The Trade: United States Steel Corporation X SVP & Chief Comm. Officer Kenneth Jaycox sold a total of 10,756 shares at an average price of $30.75. The insider received around $330,736 from selling those shares.
• What’s Happening: United States Steel reportedly engaged in confidentiality agreements with several interested parties and has begun sharing due diligence information.
• What United States Steel Does: United States Steel Corp operates primarily in the United States but also has a steelmaking capacity in Slovakia.

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