Benzinga - by Avi Kapoor, Benzinga Staff Writer.
The Nasdaq 100 closed higher by more than 250 points on Wednesday. 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.
Tenet Healthcare
- The Trade: Tenet Healthcare Corporation (NYSE:THC) Director Richard W Fisher sold a total of 1,400 shares at an average price of $132.24. The insider received around $185,136 from selling those shares.
- What's Happening: On April 30, Tenet Healthcare reported better-than-expected first-quarter earnings and issued strong guidance.
- What Tenet Healthcare Does: Tenet Healthcare is a Dallas-based healthcare services organization.
Alphabet
- The Trade: Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) Director John L Hennessy sold a total of 1,500 shares at an average price of $178.02. The insider received around $266,885 from selling those shares.
- What's Happening: Oracle and Google Cloud recently announced multicloud partnership.
- What Alphabet Does: Alphabet is a holding company. Internet media giant Google is a wholly owned subsidiary.
- The Trade: Etsy, Inc. (NASDAQ:ETSY) Chief Human Resources Officer Toni Thompson Nadal sold a total of 1,444 shares at an average price of $65.68. The insider received around $94,849 from selling those shares.
- What's Happening: On May 1, Etsy reported worse-than-expected first-quarter financial results.
- What Etsy Does: Etsy operates a top-10 e-commerce marketplace operator in the us and the UK, with sizable operations in Germany, France, Australia, and Canada.
- The Trade: Dropbox, Inc. (NASDAQ:DBX) Chief Customer Officer Eric Cox sold a total of 8,536 shares at an average price of $21.27. The insider received around $181,579 from selling those shares.
- What's Happening: On May 9, Dropbox reported better-than-expected first-quarter earnings.
- What Dropbox Does: Dropbox is a leading provider of cloud-storage and content collaboration tools with an emphasis on individuals and SMB.
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