Benzinga - by Avi Kapoor, Benzinga Staff Writer.
The Nasdaq 100 closed higher by over 200 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.
VeriSign
- The Trade: VeriSign, Inc. (NASDAQ: VRSN) Exec. Chairman and CEO D. James Bidzos sold a total of 6,000 shares at an average price of $205.19. The insider received around $1.23 million from selling those shares.
- What’s Happening: VeriSign, during October, reported worse-than-expected third-quarter revenue results.
- What VeriSign Does: Verisign is the sole authorized registry for several generic top-level domains, including the widely utilized .com and .net top-level domains.
Coinbase Global
- The Trade: Coinbase Global, Inc. (NASDAQ: COIN) Director Frederick Ernest Ehrsam III sold a total of 97,836 shares at an average price of $158.36. The insider received around $15.49 million from selling those shares.
- What’s Happening: Coinbase bagged registration from France's AMF watchdog as a virtual asset service provider (VASP), marking a significant expansion into the European market.
- What Coinbase Global Does: Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States.
- The Trade: Alphabet Inc. (NASDAQ: GOOG) (NASDAQ: GOOGL) CEO Sundar Pichai sold a total of 22,500 shares at an average price of $141.43. The insider received around $3.18 million from selling those shares.
- What’s Happening: After launching Gemini on Dec. 7, Alphabet’s Google announced VideoPoet, an advanced large language model (LLM) that exhibits a wide array of video generation capabilities.
- What Alphabet Does: Alphabet is a holding company. Internet media giant Google is a wholly owned subsidiary.
- The Trade: Toll Brothers, Inc. (NYSE: TOL) Director John McLean sold a total of 3,863 shares at an average price of $103.57. The insider received around $400,091 from selling those shares.
- What’s Happening: Toll Brothers recently approved a new 20 million share repurchase program to replace existing authorization.
- What Toll Brothers Does: Toll Brothers is the leading luxury homebuilder in the United States with an average sale price well above public competitors.
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