US stock futures traded higher this morning after posting gains in the previous session. Investors, meanwhile, focused on some notable insider trading.
When insiders sell stock, it shows they are concerned about the company’s prospects or that they think the stock is overpriced. Either way, it signals an opportunity to go short on the stock. Insider selling should not be considered the sole indicator of an investment or trading decision. At best, it can persuade a sales decision.
Below is a look at some notable recent insider sales. For more information, see Benzinga insider trading Platform.
Nicola
- The trade: Nikola Corporation NKLA Director, President, Nikola Corporation Michael Lohscheller a total of 19,973 shares sold at an average price of $5.09. The insider received around $101,58,000 from the sale of those shares.
- What’s happening: Nikola recently filed a prospectus in connection with the issuance and sale of up to $400 million of common stock from time to time.
- What Nikola does: Nikola Corp is a designer and manufacturer of battery-electric and hydrogen-electric vehicles, electric vehicle powertrains, vehicle components, energy storage systems and hydrogen fueling station infrastructure.
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JM Smucker Company
- The trade: The JM Smucker Company SJM Chief People & Admin Officer Jill Penrose sold a total of 4,543 shares at an average price of $140.83. The insider received approximately $639,79,000 from the transaction.
- What’s happening: JM Smucker recently reported better than expected Q1 results and raised FY23 guidance.
- What JM Smucker does: JM Smucker is a packaged food company primarily active in the US retail channel (87% of fiscal 2022 sales), but also in US food service (7%) and international (6%).
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CH Robinson Worldwide
- The trade: CH Robinson Worldwide, Inc. CHRW CFO…
