Benzinga - The Nasdaq Composite closed sharply higher on Thursday. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it indicates their concern in the company’s prospects or that they view the stock as being overpriced. Either way, this signals an opportunity to go short on the stock. 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.
Amazon.com
- The Trade: Amazon.com, Inc. (NASDAQ: AMZN) CEO Amazon Web Services Adam Selipsky sold a total of 2,299 shares at an average price of $100.34. The insider received around $230.69 thousand from selling those shares.
- What’s Happening: The company announced it will eliminate 9,000 additional jobs.
- What Amazon.com Does: Amazon is a leading online retailer and one of the highest-grossing e-commerce aggregators, with $386 billion in net sales and approximately $578 billion in estimated physical/digital online gross merchandise volume in 2021.
Yelp
- The Trade: Yelp Inc. (NYSE: YELP) Chief Technology Officer Sam Eaton sold a total of 7,121 shares at an average price of $30.00. The insider received around $213.63 thousand from selling those shares.
- What’s Happening: Yelp shares are trading higher after the company reported better-than-expected Q4 sales results and issued guidance.
- What Yelp Does: Yelp Inc operates in the online content market based in the United States. It provides a web-based platform and mobile application to bridge the gap between businesses and consumers.
- The Trade: KLA Corporation (NASDAQ: KLAC) EVP and CFO Bren Higgins sold a total of 6,964 shares at an average price of $382.43. The insider received around $2.66 million from selling those shares.
- What’s Happening: KLA Corporation reported upbeat Q2 earnings results.
- What KLA Does: KLA designs and manufactures yield-management and process-monitoring diagnostic and control systems for the semiconductor manufacturing industry.
Five Below
- The Trade: Five Below, Inc. (NASDAQ: FIVE) Chief Retail Officer George Hill sold a total of 2,568 shares at an average price of $200.34. The insider received around $514.47 thousand from selling those shares.
- What’s Happening: Five Below issued Q1 EPS guidance below estimates.
- What Five Below Does: Five Below is a value-oriented retailer that operated 1,190 stores in the United States as of the end of fiscal 2021.