Elwood Norris, a major shareholder of Wrap Technologies, Inc. (NASDAQ: WRAP), sold 5,000 shares of the company’s stock on October 10th. The shares were sold at an average price of $2.58 each, totaling $12,900.
After this transaction, Norris retains direct ownership of 682,738 shares in Wrap Technologies.
**Why this matters**
Insider transactions can provide insights into the confidence level of company executives and major shareholders. While a sale does not necessarily indicate negative outlook, investors often monitor such activity to gauge potential shifts in insider sentiment.