HP, Cisco And 2 Other Stocks Insiders Are Selling

By Avi Kapoor•

The Nasdaq 100 closed higher by around 1.5% on Tuesday. 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.

Target

  • The Trade: Target Corporation (NYSE:TGT) Executive Officer Brian C Cornell sold a total of 45,000 shares at an average price of $167.52. The insider received around $7.54 million from selling those shares.
  • What’s Happening: On March 5, Target reported better-than-expected fourth-quarter earnings and issued FY24 outlook.
  • What Target Does: Target serves as the nation’s sixth-largest retailer, with its strategy predicated on delivering a gratifying in-store shopping experience and a wide product assortment of trendy apparel, home goods, and household essentials at competitive prices.

Have a look at our premarket coverage here

Crocs

  • The Trade: Crocs, Inc. (NASDAQ:CROX) President Michelle Poole sold a total of 5,074 shares at an average price of $124.98. The insider received around $634,144 from selling those shares.
  • What’s Happening: On Feb. 15, Crocs reported better-than-expected fourth-quarter financial results.
  • What Crocs Does: Crocs Inc is engaged in the design, development, marketing, distribution, and sale of casual lifestyle footwear accessories for men, women, and children.

Cisco Systems

  • The Trade: Cisco Systems, Inc. (NASDAQ:CSCO) EVP and CFO Richard Scott Herren sold a total of 13,942 shares at an average price of $50.00. The insider received around $697,100 from selling those shares.
  • What’s Happening: On March 7, BBVA and Cisco deepened their strategic alliance to accelerate digital transformation and foster innovation.
  • What Cisco Does: Cisco Systems is the largest provider of networking equipment in the world and one of the largest software companies in the world.

HP

  • The Trade: HP Inc. (NYSE:HPQ) Global Controller Stephanie Liebman sold a total of 8,708 shares at an average price of $30.93. The insider received around $269,338 from selling those shares.
  • What’s Happening: On Feb. 28, HP reported worse-than-expected first-quarter sales results.
  • 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.

 

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