Fastly, General Mills And 2 Other Stocks Insiders Are Selling

Author: Avi Kapoor | February 01, 2024 08:46am

The Nasdaq 100 closed lower by more than 300 points on Wednesday. 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.

Fastly

• The Trade: Fastly, Inc. (NYSE:FSLY) Chief Architect Artur Bergman sold a total of 21,875 shares at an average price of $21.03. The insider received around $460,031 from selling those shares.
• What’s Happening: Citigroup upgraded the stock from Sell to Neutral and raised its price target from $11 to $20.
• What Fastly Does: Fastly operates a content delivery network, which is necessary for entities to provide faster and more reliable online content.

Have a look at our premarket coverage here

General Mills

• The Trade: General Mills, Inc. (NYSE:GIS) Group President Jonathon Nudi sold a total of 7,671 shares at an average price of $64.15. The insider received around $492,121 from selling those shares.
• What’s Happening: General Mills, during December, reported mixed second-quarter financial results and updated full-year guidance.
• What General Mills Does: General Mills is a global packaged food company that produces snacks, cereal, convenient meals, yogurt, dough, baking mixes and ingredients, pet food, and superpremium ice cream.

Raymond James Financial

• The Trade: Raymond James Financial, Inc. (NYSE:RJF) EVP, Gen Counsel, Secy Jonathan N Santelli sold a total of 1,891 shares at an average price of $111.91. The insider received around $211,626 from selling those shares.
• What’s Happening: Raymond James Finl posted upbeat first-quarter earnings.
• What Raymond James Financial Does: Raymond James Financial is a financial holding company whose major operations include wealth management, investment banking, asset management, and commercial banking.

Webster Financial

• The Trade: Webster Financial Corporation (NYSE:WBS) President, Commercial Banking Christopher Motl sold a total of 10,475 shares at an average price of $52.40. The insider received around $548,890 from selling those shares.
• What’s Happening: Webster Financial posted in-line earnings for the fourth quarter.
• What Webster Financial Does: Webster Financial Corp is a full-service provider of financial services, offering commercial and consumer banking, mortgages, and investment advisory along with trust and wealth management services in Connecticut, New York, Rhode Island, Massachusetts, and Pennsylvania.

 

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Posted In: FSLY GIS RJF WBS