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Insider just sold $1.7 billion worth of Walmart stock

Insider just sold $1.7 billion worth of Walmart stock
Elmaz Sabovic

Walmart (NYSE: WMT) stock appears to be a reliable investment option, offering steady appreciation, accessibility, and dividend payouts that appeal to savvy investors.

However, it’s worth noting that Samuel Robson Walton, former chairman and heir to the Walmart Fortune, has sold 10.9 million WMT shares over the last three weeks, totaling just under $1.7 billion. This move suggests he’s chosen to cash in on some of his holdings.

Samuel Walton sales of WMT stock. Source: Barchart
Samuel Walton sales of WMT stock. Source: Barchart

Even after selling at an average price of $97 per share following Walmart’s announcement of a 3-1 stock split on January 30, Walton still holds a significant reserve, amounting to 45% of the total WMT shares.

Overwhelming selling activity of WMT stock by insiders

Looking at the sales ratio to WMT stock purchases by insiders over the past 12 months, the trend heavily favors selling. Only one instance of buying occurred during this period, involving 7,245 WMT shares, while 41,266,732 shares were sold.

In addition to the sales by the heir to the Walmart empire, Walmart’s CFO, John Rainey, sold 3,000 WMT shares, generating a profit of $175,635.

Furthermore, Rachel Brand, the Chief Legal Officer, sold 50,271 shares worth $2,965,925, and John Furner, Division CEO, sold 13,125 shares, resulting in a profit of $781,068.

What’s intriguing is that all three sales by prominent Walmart insiders have left them with minimal ownership of WMT stock, each holding less than 1%.

Insider sales of WMT stock. Source: Barchart
Insider sales of WMT stock. Source: Barchart

Walmart stock price chart

Despite the sales made by Walmart insiders, WMT stock appears to be performing as strongly as ever, currently trading at $61.41 after a 1.24% increase since the previous close. These gains have persisted over five trading sessions, showing a 2.18% upside.

Since the beginning of 2024, WMT shares have grown 15.65%, continuing a trend from the previous year.

WMT stock YTD price chart. Source: Finbold
WMT stock YTD price chart. Source: Finbold

This performance indicates that insider trades have probably been purely profit-taking oriented, without raising concerns over the future performance of WMT stock.

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