Skechers’ (SKX) President Michael Greenberg recently sold the company’s shares worth $1.41 million. SKX is a global footwear and apparel brand known for its innovative, comfortable, and stylish designs for all age groups.
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According to the filing, on December 31, Greenberg sold 10,274 shares at an average price of $67.48 per share, totaling $693,275. Further, he sold 10,559 shares through an automatic transaction priced at $67.72 per share, as part of a stock compensation adjustment. Investors should note that prior to the latest sale, he sold SKX stock worth $29.5 million in August 2024.
Following these transactions, Greenberg still owns around 149,327 shares of SKX stock, worth about $10 million.
Investors may benefit from keeping an eye on transactions made by key insiders, as these trades typically reflect their trust in the company’s future. Interestingly, TipRanks offers daily insider transactions as well as a list of top corporate insiders. It also provides a list of hot stocks that boast either a Very Positive or Positive insider confidence signal.
Is SKX a Good Stock?
Wall Street remains optimistic about Skechers stock’s trajectory. On TipRanks, SKX stock commands a Strong Buy consensus rating based on nine Buys and one Hold rating. Also, the average Skechers price target of $80.44 implies a nearly 20% upside potential from current levels. Shares of the company have gained 3.32% in the past three months.
