Carvana, Alaska Air And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed higher by around 1% 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.

Marriott International

• The Trade: Marriott International, Inc. MAR Director David S Marriott sold a total of 2,878 shares at an average price of $248.94. The insider received around $716,449 from selling those shares.
• What’s Happening: On Feb. 13, Marriott reported mixed fourth-quarter financial results and issued FY24 adjusted EPS guidance below estimates.
• What Marriott International Does: Marriott operates 1.6 million rooms across roughly 30 brands. At the end of 2023, luxury represented roughly 10% of total rooms, premium 42%, select service was 46%, midscale 1%, and other 1%. Marriott, Courtyard, and Sheraton are the largest brands, while Autograph, Tribute, Moxy, Aloft, and Element are newer lifestyle brands.

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MACOM Technology Solutions

• The Trade: MACOM Technology Solutions Holdings, Inc. MTSI Director Susan Ocampo sold a total of 38,556 shares at an average price of $88.00. The insider received around $3.39 million from selling those shares.
• What’s Happening: On Feb. 1, MACOM Technology Solns reported better than expected fourth-quarter earnings.
• What MACOM Technology Solutions Does: MACOM Technology Solutions Holdings Inc is a provider of analog, digital and mixed-signal semiconductor solutions to original equipment manufacturers and distributors.

Alaska Air

• The Trade: Alaska Air Group, Inc. ALK EVP and CCO Andrew R Harrison sold a total of 6,500 shares at an average price of $38.36. The insider received around $249,348 from selling those shares.
• What’s Happening: On Feb. 20, Deutsche Bank analyst Michael Linenberg upgraded Alaska Air from Hold to Buy and raised the price target from $44 to $51.
• What Alaska Air Does: Alaska Air Group Inc operates two airlines, Alaska and Horizon in three operating segments. The Mainline segment includes scheduled air transportation on Alaska's Boeing and Airbus jet aircraft for passengers and cargo throughout the U.S., and in parts of Mexico, and Costa Rica.

Carvana

• The Trade: Carvana Co. CVNA Paul W. Breaux sold a total of 15,000 shares at an average price of $79.00. The insider received around $1.19 million from selling those shares.
• What’s Happening: On Feb. 22, Carvana reported fourth-quarter revenue of $2.424 billion, which missed the consensus estimate of $2.528 billion.
• What Carvana Does: Carvana Co is an e-commerce platform for buying and selling used cars. The company derives revenue from used vehicle sales, wholesale vehicle sales and other sales and revenues.

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