ADP, Microsoft and 3 Other Stock Insiders Sell – Automatic Data Processing (NASDAQ:ADP), AutoNation (NYSE:AN)

US stocks opened higher this morning on Wednesday. Investors, meanwhile, focused on some notable insider trades.

When insiders sell shares, it indicates that they are concerned about the prospects of the company or that they consider the stock to be overvalued. Either way, this signals an opportunity to go short on the stock. Insider selling should not be considered the sole indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.

Below is an overview of some recent notable insider sales. To find out more, see Benzinga Insider Trading Platform.

KLA

  • The exchange: KLA Society KLAC Executive Vice President Oreste Donzella sold a total of 2,417 shares at an average price of $334.86. The insider received approximately $809.36 thousand from the sale of these shares.
  • What is happening: Morgan Stanley recently held KLA at equal weight and lowered the price target from $381 to $358.
  • What the KLA does: Hyatt is an operator of 1,162 owned (5% of total rooms) and managed and franchised (95%) properties across approximately 20 premium luxury brands, which include vacation brands (Apple Leisure Group, Hyatt Ziva and Hyatt Zilara), the recently launched full range – service lifestyle brand Hyatt Centric, soft lifestyle brand Unbound, and wellness brand Miraval.

Also check this: Market volatility rises as US stocks start shortened holiday week on pessimistic note

Campbell Soup Company

  • The exchange: Campbell Soup Company pcb Executive Vice President Adam Ciongoli sold a total of 18,321 shares at an average price of $50.00. The insider received approximately $916.06 thousand as a result of the transaction.
  • What is happening: Credit Suisse reiterated a neutral rating on Campbell Soup shares with a price target of $52.00.
  • What Campbell’s Soup does: With a history that dates back approximately 150 years, Campbell Soup is today a leading manufacturer and marketer of branded food products, including soup.

Take a look at our pre-market coverage here.

Automatic data processing

  • The exchange: Automatic Data Processing, Inc. ADP Corp. VP John Ayala sold a total of 27,936 shares at an average price of $242.42. The insider received approximately $6.77 million from the sale of these shares.
  • What is happening: Automatic Data Processing, during the month of July, delivered better-than-expected fourth quarter revenue and EPS results
  • What ADP does: ADP is a provider of payroll and human capital management solutions serving all businesses, from micro-enterprises to global enterprises.

Microsoft

  • The exchange: Microsoft Corporation MSFT Executive Vice President, Chief Financial Officer Amy Hood sold a total of 75,351,395 shares at an average price of $259.47. The insider received approximately $19.55 million from the sale of these shares.
  • What is happening: Shares of the company have fallen about 9% over the past month.
  • What Microsoft does: Microsoft develops and licenses consumer and enterprise software. It is known for its Windows operating systems and Office productivity suite.

AutoNation

  • The exchange: AutoNation, Inc. A 10% owner Edward S. Lampert sold a total of 4,262 shares at an average price of $124.59. The insider received approximately $531,000 from the sale of these shares.
  • What is happening: Argus Research recently launched coverage on AutoNation with a buy rating and announced a price target of $150.
  • What AutoNation does: AutoNation is the largest auto dealership in the United States, with sales of $25.8 billion in 2021 and approximately 250 dealerships in nearly 350 locations, plus 57 collision centers.

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