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 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.
Picks for you
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%.
This suggests that insider trades were likely driven solely by profit motives without raising concerns about the future performance of WMT stock.
Buy stocks now with eToro – trusted and advanced investment platform
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
