In 2024, we’ve witnessed significant insider selling across various companies, including big names like Nvidia (NASDAQ: NVDA), Meta Platforms (NASDAQ: META), and Amazon (NASDAQ: AMZN).
Adding to this trend is the insider trading activity surrounding Walmart (NYSE: WMT). Most notably, Walmart’s CEO and President, Doug McMillon, recently sold 29,124 WMT shares at an average price of $60.03, totaling $1.7 million on April 25.
![WMT stock insider trading activity. Source: Barchart](https://assets.finbold.com/uploads/2024/05/WMT-stock-insider-trading-activity-1024x525.png)
WMT stock has experienced heavy insider activity in 2024
In 2024, there wasn’t much confidence in WMT shares from top executives, as the total value of shares sold surpassed $2 billion. Samuel Robson Walton, the heir to the Walmart empire, sold nearly $1.7 billion worth of shares in March, just before Walmart’s 3-1 stock split, at an average price of $97 per share.
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In addition to Walton’s sales, Walmart’s CFO, John Rainey, sold 3,000 WMT shares, making a profit of $175,635. Chief Legal Officer Rachel Brand sold 50,271 shares, valued at $2,965,925, and Division CEO John Furner sold 13,125 shares, resulting in a profit of $781,068.
Notably, all three insiders now hold minimal ownership of WMT stock, each owning less than 1%.
WMT stock price chart
As of the latest closing, WMT stock is trading at $59.35 after suffering a 1.48% drawback in the latest trading session. This drawback contradicts the gain of 0.53% in the past five trading sessions.
On a YTD chart, WMT shares have advanced by a solid 11.77%.
![WMT stock YTD price chart. Source: Google Finance](https://assets.finbold.com/uploads/2024/05/WMT-stock-YTD-price-chart.png)
This suggests that insider trades were likely driven solely by profit motives without raising concerns about the future performance of WMT stock.
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