Starbucks, Nike And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed higher by around 2.5% during Thursday's session. 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.

Starbucks

The Trade: Starbucks Corporation SBUX Interim CEO and EVP, CFO Rachel Ruggeri sold a total of 3,290 shares at an average price of $91.16. The insider received around $299,916 from selling those shares.
What's Happening: Starbucks recently announced that Chipotle CEO and Chairman Brian Niccol has been named as Starbucks’ new Chairman and Chief Executive Officer, effective Sept. 9.
What Starbucks Does: Starbucks is one of the most widely recognized restaurant brands in the world, operating more than 38,000 stores across more than 80 countries as of the end of fiscal 2023.
Benzinga Pro's real-time newsfeed alerted to latest SBUX news.

Signet Jewelers

The Trade: Signet Jewelers Limited SIG Oded Edelman sold a total of 18,000 shares at an average price of $76.06. The insider received around $1.4 million from selling those shares.
What's Happening: Signet Jewelers is expected to announce its second quarter results on Thursday, Sept. 12.
What Signet Jewelers Does: Signet Jewelers Ltd is a retailer of diamond jewelry. Its merchandise mix includes bridal, fashion, watches and others.
Benzinga Pro’s charting tool helped identify the trend in SIG stock.

NIKE

The Trade: NIKE, Inc. NKE Executive Chairman Mark G Parker sold a total of 70,864 shares at an average price of $78.00. The insider received around $4.09 million from selling those shares.
What's Happening: On Aug. 14, Pershing Square disclosed in a 13F filing that it added a new position in the company.
What NIKE Does: Nike is the largest athletic footwear and apparel brand in the world. Key categories include basketball, running, and football (soccer). Footwear generates about two thirds of its sales.
Benzinga Pro’s signals feature notified of a potential breakout in NKE shares.

Trade Desk

The Trade: The Trade Desk, Inc. TTD Director Kathryn E Falberg sold a total of 150,000 shares at an average price of $98.17. The insider received around $14.7 million from selling those shares.
What's Happening: On Aug. 8, The Trade Desk reported better-than-expected second-quarter financial results and issued third-quarter revenue guidance above estimates.
What Trade Desk Does: The Trade Desk provides a self-service platform that helps advertisers and ad agencies programmatically find and purchase digital ad inventory (display, video, audio, and social) on different devices like computers, smartphones, and connected TVs.
Benzinga Pro’s earnings calendar was used to monitor upcoming earnings reports of TTD.