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

The Nasdaq 100 closed lower by over 1% on Wednesday. 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.

Nordson

• The Trade: Nordson Corporation NDSN Executive Vice President Stephen Lovass sold a total of 2,000 shares at an average price of $258.68. The insider received around $517,360 from selling those shares.
• What’s Happening: Nordson, last month, posted better-than-expected quarterly results.
• What Nordson Does: Nordson is a manufacturer of equipment (including pumps, valves, dispensers, applicators, filters, and pelletizers, among other equipment) used for dispensing adhesives, coatings, sealants, and other materials.

Have a look at our premarket coverage here

McDonald's

• The Trade: McDonald's Corporation MCD EVP - Chief People Officer Heidi Capozzi sold a total of 2,750 shares at an average price of $295.84. The insider received around $813,560 from selling those shares.
• What’s Happening: Gerbang Alaf Restaurants Sdn Bhd (GAR), which is the licensee of McDonald's in Malaysia, has reportedly initiated a legal action against the Boycott, Divestment and Sanctions (BDS) Malaysia movement.
• What McDonald's Does: McDonald's is the largest restaurant owner-operator in the world, with 2022 system sales of $116 billion across more than 40,000 stores and 115 markets.

HP

• The Trade: HP Inc. HPQ President and CEO Enrique Lores sold a total of 38,000 shares at an average price of $29.75. The insider received around $1.13 million from selling those shares.
• What’s Happening: Morgan Stanley analyst Erik Woodring, last month, upgraded HP from Equal-Weight to Overweight and raised the price target from $31 to $35.
• What HP Does: HP (formerly Hewlett-Packard) is a behemoth in the PC and printing markets. It has focused on these markets since it exited IT infrastructure in 2015 with the split from Hewlett Packard Enterprise.

DoorDash

• The Trade: DoorDash, Inc. DASH CFO Ravi Inukonda sold a total of 7,000 shares at an average price of $100.07. The insider received around $700,513 from selling those shares.
• What’s Happening: Barclays analyst Jason Goldberg maintained Ally Financial with an Equal-Weight and raised the price target from $32 to $43.
• What DoorDash Does: DoorDash was recently added to the Nasdaq-100 Index.

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