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Apple, PepsiCo And 2 Other Stocks Insiders Are Selling

Published Nov 15, 2023 13:02 Updated Nov 15, 2023 14:10
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Benzinga - by Lisa Levin, Benzinga Editor.

The Nasdaq 100 closed higher by over 2% on Tuesday. 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.

Microsoft

  • The Trade: Microsoft Corporation (NASDAQ: MSFT) EVP, Chief Commercial Officer Judson Althoff sold a total of 11,500 shares at an average price of $367.38. The insider received around $4.22 million from selling those shares.
  • What’s Happening: Microsoft and Alphabet Google have decided not to contest a European Union regulation that mandates them to simplify the process for users to switch between rival services, including social media platforms and internet browsers.
  • What Microsoft Does: Microsoft develops and licenses consumer and enterprise software. It is known for its Windows operating systems and Office productivity suite.
Have a look at our premarket coverage here

Apple

  • The Trade: Apple Inc. (NASDAQ: AAPL) Principal Accounting Officer Chris Kondo sold a total of 4,806 shares at an average price of $184.04. The insider received around $884,496 from selling those shares.
  • What’s Happening: Apple rolled out new onboarding videos in its latest visionOS beta release for the forthcoming Vision Pro headset, providing users a headstart navigating the innovative device.
  • What Apple Does: Apple designs a wide variety of consumer electronic devices, including smartphones (iPhone), tablets (iPad), PCs (Mac), smartwatches (Apple Watch), and AirPods, among others.
PepsiCo
  • The Trade: PepsiCo, Inc. (NASDAQ: PEP) Vice Chairman, EVP & CFO Hugh Johnston sold a total of 48,388 shares at an average price of $166.65. The insider received around $8.06 million from selling those shares.
  • What’s Happening: Jefferies initiated coverage on PepsiCo with a Buy rating and announced a price target of $203.
  • What PepsiCo Does: PepsiCo is a global leader in snacks and beverages, owning well-known household brands including Pepsi, Mountain Dew, Gatorade, Lay's, Cheetos, and Doritos, among others.
Gartner
  • The Trade: Gartner, Inc. (NYSE: IT) Director James C Smith sold a total of 10,885 shares at an average price of $409.74. The insider received around $4.6 million from selling those shares.
  • What’s Happening: Gartner reported better-than-expected third-quarter financial results and raised FY23 guidance.
  • What Gartner Does: Based in Stamford, Conn., Gartner provides independent research and analysis on information technology and other related technology industries. Its research is delivered to clients' desktops in the form of reports, briefings, and updates.

Check This Out: Investor Optimism Improves Following US Inflation Data

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Apple, PepsiCo And 2 Other Stocks Insiders Are Selling
 

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