Benzinga - by Lisa Levin, Benzinga Editor.
The Nasdaq 100 closed lower by over 100 points on Thursday. 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.
Yelp
- The Trade: Yelp Inc. (NYSE: YELP) CEO Jeremy Stoppelman sold a total of 10,000 shares at an average price of $45.00. The insider received around $450,001 from selling those shares.
- What’s Happening: Yelp posted better-than-expected quarterly results.
- 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.
Snap
- The Trade: Snap Inc. (NYSE: SNAP) CEO Evan Spiegel sold a total of 150,000 shares at an average price of $10.34. The insider received around $1.55 million from selling those shares.
- What’s Happening: Snap, the parent company of the popular social media platform Snapchat, has announced a significant leadership change in its India operations.
- What Snap Does: Snap, which refers to itself as a camera company, has one of the most popular social networking apps, Snapchat, in developed regions such as North America and Europe.
- The Trade: Zoom Video Communications, Inc. (NASDAQ: ZM) Director Santiago Subotovsky sold a total of 2,067 shares at an average price of $73.49. The insider received around $151,909 from selling those shares.
- What’s Happening: Zoom Video Communications reported better-than-expected quarterly results and issued strong earnings guidance.
- What Zoom Video Does: Zoom Video Communications provides a communications platform that connects people through video, voice, chat, and content sharing.
- The Trade: Amazon.com, Inc. (NASDAQ: AMZN) CEO Amazon Web Services Adam Selipsky sold a total of 1,000 shares at an average price of $136.89. The insider received around $136,890 from selling those shares.
- What’s Happening: BMW will leverage Amazon‘s cloud computing technology for the development of semi-autonomous driving features in its forthcoming electric vehicles (EVs), CNBC reported.
- 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.
Check This Out: Wall Street's Most Accurate Analysts Say Buy These 3 Consumer Stocks Delivering High-Dividend Yields
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.