Benzinga - by Avi Kapoor, Benzinga Staff Writer.
The Nasdaq 100 closed slightly lower 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.
Zoom Video Communications
- The Trade: Zoom Video Communications, Inc. (NASDAQ:ZM) CEO Eric S. Yuan sold a total of 4,840 shares at an average price of $61.97. The insider received around $299,911 from selling those shares.
- What's Happening: Zoom Video is expected to release its financial results for the first quarter on Monday, May 20, after the closing bell.
- What Zoom Video Does: Zoom Video Communications provides a communications platform that connects people through video, voice, chat, and content sharing.
Seagate Technology
- The Trade: Seagate Technology Holdings plc (NASDAQ:STX) SVP, HDD & SDD Products & CTO John Christopher Morris sold a total of 11,158 shares at an average price of $90.00. The insider received around $1 million from selling those shares.
- What's Happening: On April 23, Seagate Technology posted upbeat earnings for its third quarter, while sales missed expectations.
- What Seagate Does: Seagate is a leading supplier of hard disk drives for data storage to the enterprise and consumer markets.
- The Trade: Amazon.com, Inc. (NASDAQ:AMZN) Director Keith Brian Alexander sold a total of 1,000 shares at an average price of $186.22. The insider received around $186,220 from selling those shares.
- What's Happening: On Tuesday, Amazon.Com revealed the first of twelve Volvo electric big rigs it intends to operate this year, starting at Southern California's bustling Los Angeles/Long Beach port complex.
- What Amazon Does: Amazon is the leading online retailer and marketplace for third party sellers.
- The Trade: Abbott Laboratories (NYSE:ABT) Executive Vice President Lisa D Earnhardt sold a total of 22,852 shares at an average price of $106.25. The insider received around $2.43 million from selling those shares.
- What's Happening: On April 17, Abbott Laboratories reported better-than-expected earnings for its first quarter.
- What Abbott Laboratories Does: Abbott manufactures and markets cardiovascular and diabetes devices, adult and pediatric nutritional products, diagnostic equipment and testing kits, and branded generic drugs.
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