Craig B. Glidden, executive vice president and general counsel of General Motors (GM), recently sold shares worth $21.7 million. According to the SEC filing, Glidden offloaded 383,142 shares of the company, including 331,561 shares acquired through the exercise of stock options. The sale occurred on November 18 at an average price of $56.63 per share.
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It is worth mentioning that earlier in February and April, the insider sold GM stock worth $2.27 million and $2.10 million, respectively. Following this latest transaction, he still owns the company’s shares worth $6.75 million.
General Motors designs, manufactures, and sells cars, trucks, and automobile parts. For a thorough assessment of the stock, go to TipRanks’ Stock Analysis page.
GM Braces for Policy Changes Under Trump
It is worth highlighting that the insider sale comes as General Motors prepares for potential policy changes under the incoming Trump administration. One concern is the possible removal of the tax credit under the Inflation Reduction Act, which could slow EV adoption. GM is particularly vulnerable, as several of its EV models qualify for the full $7,500 credit.
Importantly, the company’s decision to reintroduce plug-in hybrids in 2027 reflects its strategy to adapt to evolving regulations.
Insiders Sentiment for GM Stock Is Bearish
Importantly, Glidden is not the only insider who reduced his stake in the company. Based on seven informative insider transactions from the last three months, corporate insiders have sold $68.6 million worth of GM stock. Overall, TipRanks’ Insider Trading Activity Tool shows that insider confidence in the stock is currently Very Negative.
Investors may benefit from keeping an eye on transactions made by key insiders, as these transactions typically reflect their confidence in the company’s prospects. 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 GM Stock a Good Buy Now?
Turning to Wall Street, GM has a Moderate Buy consensus rating based on 10 Buys, six Holds, and two Sells assigned in the last three months. At $56.67, the average General Motor price target implies a 3.28% upside potential. Shares of the company have gained 54% year-to-date.
