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Amazon, Pinterest And 2 Other Stocks Insiders Are Selling

Published 06/04/2023, 13:16
Updated 06/04/2023, 14:40
© Reuters.  Amazon, Pinterest And 2 Other Stocks Insiders Are Selling
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Benzinga - The Nasdaq Composite closed lower by 1% on Wednesday. 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.

World Acceptance

  • The Trade: World Acceptance Corporation (NASDAQ: WRLD) 10% owner Clifford Sosin sold a total of 5,815 shares at an average price of $82.17. The insider received around $477.85 thousand from selling those shares.
  • What’s Happening: World Acceptance posted Q3 adjusted loss of $0.78 per share.
  • What World Acceptance Does: World Acceptance Corp operates a small-loan consumer finance business. The company offers short-term small installment loans, medium-term larger installment loans, related credit insurance and ancillary products and services to individuals.
Have a look at our premarket coverage here

Fastly

  • The Trade: Fastly, Inc. (NYSE: FSLY) Director, Chief Architect, Exec. Chair Artur Bergman sold a total of 11,163 shares at an average price of $16.76. The insider received around $187.08 thousand from selling those shares.
  • What’s Happening: Fastly reported better-than-expected Q4 EPS and sales results.
  • What Fastly Does: Fastly operates a content delivery network, which is necessary for entities to provide faster and more reliable online content.
Check This Out: Top 5 Tech And Telecom Stocks That May Rocket Higher In April

Pinterest

  • The Trade: Pinterest, Inc. (NYSE: PINS) Director Jeffrey Jordan sold a total of 7,500 shares at an average price of $27.87. The insider received around $209.03 thousand from selling those shares.
  • What’s Happening: RBC Capital maintained Pinterest with a Sector Perform and raised the price target from $26 to $30.
  • What Pinterest Does: Pinterest is an online product and idea discovery platform that helps users gather ideas on everything from recipes to cook to destinations to travel to.
Amazon.com
  • The Trade: Amazon.com, Inc. (NASDAQ: AMZN) CEO Worldwide Amazon Stores Douglas J Herrington sold a total of 4,000 shares at an average price of $102.25. The insider received around $409 thousand from selling those shares.
  • What’s Happening: Amazon.Com tapped a De Beers Group division to grow artificial diamonds to help revolutionize computer networks.
  • 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.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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