Costco Wholesale, Micron Technology And This Healthcare Stock Insiders Are Selling
By Lisa Levin,
The Nasdaq jumped by around 190 points on Tuesday. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it indicates their concern in the company’s prospects or that they view the stock as being overpriced. Either way, this signals an opportunity to go short on the stock. 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.
The Trade: Costco Wholesale Corporation COST Executive Vice President James Klauer sold a total of 2,500 shares at an average price of $503.69. The insider received around $1.26 million from selling those shares.
What’s Happening: Costco reauthorized a buyback and declared a dividend.
What Costco Wholesale Does: The leading warehouse club, Costco has 838 stores worldwide (at the end of fiscal 2022), with most sales derived in the United States (73%) and Canada (14%).
The Trade:Micron Technology, Inc. MU EVP, Global Operations Manish Bhatia sold a total of 50,000 shares at an average price of $63.29. The insider received around $3.16 million as a result of the transaction.
What’s Happening: Micron, during December, reported worse-than-expected Q1 results.
What Micron Technology Does: Micron historically focused on designing and manufacturing DRAM for PCs.
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