Cleveland-Cliffs, Sprouts Farmers Market And 2 Other Stocks Insiders Are Selling

3/18/24 8:06:55 AM ET

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The Nasdaq 100 closed lower by over 200 points on Friday. 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.

Cleveland-Cliffs

The Trade: Cleveland-Cliffs Inc (NYSE:CLF) Director Susan Miranda Green sold a total of 6,500 shares at an average price of $20.40. The insider received around $132,600 from selling those shares.
What’s Happening: Chief Executive Officer of Cleveland-Cliffs Lourenco Goncalves said he is considering another bid for U.S. Steel if the current Nippon Steel deal falls apart.
What Cleveland-Cliffs Does: Cleveland-Cliffs Inc is a flat-rolled steel producer and manufacturer of iron ore pellets in North America.

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SunOpta

The Trade: SunOpta Inc. (NASDAQ:STKL) Advisor Joseph Ennen sold a total of 150,000 shares at an average price of $6.89. The insider received around $1.03 million from selling those shares.
What’s Happening: On Feb. 28, SunOpta posted upbeat quarterly earnings.
What SunOpta Does: SunOpta Inc is a Canadian company that focuses on a healthy product portfolio.

Allient

Sprouts Farmers Market

Check This Out: Top 5 Industrials Stocks That May Fall Off A Cliff In Q1

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Recent Analyst Ratings for
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$CLF
$SFM
$STKL

Company	Date	Price Target	Rating	Analyst
Sprouts Farmers Market Inc. $SFM	9/16/2024	$96.00 → $120.00	In-line → Outperform	Evercore ISI
Sprouts Farmers Market Inc. $SFM	9/12/2024	$107.00	Sector Perform	RBC Capital Mkts
Cleveland-Cliffs Inc. $CLF	8/27/2024	$16.50	Neutral → Buy	Seaport Research Partners
Sprouts Farmers Market Inc. $SFM	7/30/2024	$40.00 → $102.00	Underperform → Market Perform	BMO Capital Markets
Sprouts Farmers Market Inc. $SFM	7/30/2024	$62.00 → $90.00	Underweight → Equal Weight	Wells Fargo
Cleveland-Cliffs Inc. $CLF	6/11/2024	$23.00 → $17.00	Overweight → Neutral	JP Morgan
Cleveland-Cliffs Inc. $CLF	5/20/2024	$22.00	Buy	Jefferies
Cleveland-Cliffs Inc. $CLF	4/9/2024	$18.00	Peer Perform → Underperform	Wolfe Research

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What's Going On With Cleveland-Cliffs Shares Today?
Cleveland-Cliffs Inc. (NYSE:CLF) shares are trading higher today after the company reported financial results for the second quarter yesterday. The company reported revenue of $5.09 billion, missing the consensus estimate of $5.20 billion, according to Benzinga Pro. The company reported breakeven adjusted earnings, beating analyst estimates for a loss of 2 cents per share. Cleveland-Cliffs lowered its full-year 2024 expected capital expenditures range from a range of $675 million to $725 million to a new range of $650 million to $700 million. The company also noted that its year-over-year steel unit cost reduction objective of approximately $30 per net ton remains on track. KeyBa
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