Benzinga - by Avi Kapoor, Benzinga Staff Writer.
The Nasdaq 100 closed higher by over 200 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.
AutoNation
- The Trade: AutoNation, Inc. (NYSE: AN) 10% owner Edward S Lampert sold a total of 10,804 shares at an average price of $154.56. The insider received over $1,669,822 from selling those shares.
- What’s Happening: The company reported fourth-quarter adjusted EPS of $5.02, beating the street view of $4.95.
- What AutoNation Does: AutoNation is the second largest automotive dealer in the United States, with 2022 revenue of $27 billion and over 250 dealerships, plus 53 collision centers.
Uber Technologies
- The Trade: Uber Technologies, Inc. (NYSE: UBER) Tony West sold a total of 18,750 at an average price of $70.08. The insider received around $1,313,926 from selling those shares.
- What’s Happening: Uber announced an inaugural $7 billion share repurchase authorization.
- What Uber Technologies Does: Uber Technologies is a technology provider that matches riders with drivers, hungry people with restaurants and food delivery service providers, and shippers with carriers.
- The Trade: H.B. Fuller Company (NYSE: FUL) Sr. VP, International Growth Heather Campe sold a total of 3,450 shares at an average price of $76.83. The insider received around $265,064 from selling those shares.
- What’s Happening: H.B. Fuller posted upbeat earnings for its fourth quarter.
- What H.B. Fuller Does: H.B. Fuller Co manufactures and sells adhesives, sealants, and other chemical-based products.
- The Trade: Amazon.com, Inc. (NASDAQ: AMZN) CEO Worldwide Amazon Stores Douglas J Herrington sold a total of 14,300 shares at an average price of $175.00. The insider received around $2,502,500 from selling those shares.
- What’s Happening: Amazon.com announced that it will lay off hundreds of employees at its One Medical and Pharmacy units as part of a major cost-cutting initiative.
- 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.
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