US stocks traded lower on Thursday. 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.
Guess
- The trade: Guess? inc TOTAL Director Anthony Chidoni sold a total of 10,000 shares at an average price of $16.60. The insider received around $166,000 from the sale of those shares.
- What’s happening: The company released weak quarterly earnings last month.
- What guess does: Guess? Inc designs, markets, distributes and licenses contemporary apparel and accessories that reflect European fashion sensibilities under brands such as Guess, Marciano and G by Guess.
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Kellogg
- The trade: Kellogg Company K 10% owner of the Kellogg WK Foundation sold a total of 100,000 shares at an average price of $71.12. The insider received approximately $7.11 million from the transaction.
- What’s happening: Kellogg recently appointed Gary Pilnick as Chief Executive Officer of North America Cereal Co.
- What Kellogg does: Founded in 1906, Kellogg is a leading global manufacturer and marketer of cereals, cookies, crackers and other packaged foods.
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HubSpot
- The trade: HubSpot, Inc. HUBS Chief Executive Officer Brian Halligan sold a total of 8,500 shares at an average price of $286.00. The insider received around $2.43 million from the sale of those shares.
- What’s happening: HubSpot last month reported better than expected adjusted EPS and revenue results for the second quarter.
- What HubSpot does:…
