Salesforce, Home Depot And 2 Other Stocks Insiders Are Selling – Home Depot (NYSE:HD), Salesforce (NYSE:CRM)

The Nasdaq 100 closed lower by more than 300 points on Thursday. Investors, meanwhile, focused on some notable insider trades.

When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company’s prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.

Below is a look at a few recent notable insider sales. For more, check out Benzinga’s insider transactions platform.

HubSpot

• The Trade: HubSpot, Inc. (NYSE:HUBS) Chief Technology Officer Dharmesh Shah sold a total of 20,000 shares at an average price of $505.71. The insider received around $10.11 million from selling those shares.
• What’s Happening: HubSpot posted better-than-expected quarterly earnings.
• What HubSpot Does: HubSpot provides a cloud-based marketing, sales, and customer service software platform referred to as the growth platform.

Have a look at our premarket coverage here

Home Depot

• The Trade: The Home Depot, Inc. (NYSE:HD) SVP-Finance, CAO & Controller Kimberly R Scardino sold a total of 1,600 shares at an average price of $326.69. The insider received around $522,704 from selling those shares. The company’s EVP, Gen. Counsel & Corp. Sec. Teresa Wynn Roseborough also disposed a total of 6091 shares at an average price of $324.22.
• What’s Happening: Home Depot reported better-than-expected results for its second quarter..
• What Home Depot Does: Home Depot is the world’s largest home improvement specialty retailer, operating more than 2,300 warehouse-format stores offering more than 30,000 products in store and 1 million products online in the United States, Canada, and Mexico.

Salesforce

• The Trade: Salesforce, Inc. (NYSE:CRM) Chair and CEO Marc Benioff sold a total of 15,000 shares at an average price of $209.55. The insider received around $3.14 million from selling those shares.
• What’s Happening: Salesforce is scheduled to release second quarter fiscal year 2024 results on Aug. 30, 2023.
• What Salesforce Does: Salesforce Inc provides enterprise cloud computing solutions. The company offers customer relationship management technology that brings companies and customers together.

TJX

• The Trade: The TJX Companies, Inc. (NYSE:TJX) SEVP – Group President Kenneth Canestrari sold a total of 4,197 shares at an average price of $90.00. The insider received around $377,730 from selling those shares.
• What’s Happening: TJX Companies reported second-quarter FY24 sales growth of 8% year-on-year to $12.76 billion, beating the analyst consensus estimate of $12.45 billion.
• What TJX Does: TJX is a leading off-price retailer of apparel, home fashions, and other merchandise. It sells a variety of branded goods, opportunistically buying inventory from a network of over 21,000 vendors worldwide.

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