Insider stock trading, a clandestine practice that occurs within the corridors of power, holds the potential to drastically alter the investment landscape. It refers to the buying or selling of company shares by individuals who possess privileged information about the organization.
As investors, it is crucial to monitor these developments closely, for they can signal significant shifts in market sentiment and provide insights into the future trajectory of a company’s stock.
In that light, Finbold conducted a comprehensive analysis on Monday, June 19, to identify the three largest insider trading moves that are happening now. As a result, we have learned that such practices are currently taking place at major companies such as Coca-Cola Co (NYSE: KO), Salesforce (NYSE: CRM), and Walmart (NYSE: WMT).
Picks for you
Coca-Cola Co (NYSE: KO)
Several insiders in The Coca-Cola Company have reduced their stock holdings over the past year, capturing the attention of many shareholders of the soft drink giant.
Over the past 12 months, the largest insider stock sale was carried out by Coke’s CEO and chairman, James Robert Quincey, who offloaded $9.6 million worth of KO shares at an average price of $64.33 apiece.
More recently, the company also witnessed considerable insider selling in the last quarter, with total sales amounting to $12 million. During that period, there was no record of insider buying, indicating that the company’s officials may believe that the stock is overpriced.
At the time of publication, Coca-Cola shares were standing at $61.67 ahead of the market open on June 19.
Salesforce (NYSE: CRM)
Salesforce, a well-known software cloud-based software maker, has been one of the most searched stocks on the investment research platform Zacks.com recently.
After a turbulent 2022, the company’s share price has staged a notable recovery in 2023, rising more than 56% year-to-date amid the growing demand for cloud and AI solutions.
Salesforce also saw some noteworthy insider trading last week by no other than its co-founder and CEO Marc Benioff.
Notably, Benioff sold 500,000 CRM shares at $209.14 apiece, for a total sale amount of more than $104.5 million, according to a filing with the Securities and Exchange Commission (SEC).
At the time of publication, the company’s stock was trading at $211.76 per share.
Walmart (NYSE: WMT)
The biggest US-based retailer by revenue Walmart saw its share price climb by nearly 10% after its bumpy performance last year.
On June 16, Walmart’s fortune heir and former chairman S. Robson Walton sold 1.369 million shares of the retail giant for more than $213.5 million at a price per share of $156, the filing with the SEC showed.
On that date, Walmart shares closed at $155.5, before opening more than 1.3% lower on June 19.
Last month, the retailer beat Wall Street expectations for fiscal Q1 2024 earnings and revenue and hiked its guidance for the full year.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
