Benzinga - by Lisa Levin, Benzinga Editor.
The Nasdaq 100 closed slightly higher on Friday. 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.
Electronic Arts
- The Trade: Electronic Arts Inc. (NASDAQ: EA) CEO and Board Chair Andrew Wilson sold a total of 5,000 shares at an average price of $120.00. The insider received around $600,000 from selling those shares.
- What’s Happening: Electronic Arts confirmed that "The Sims 5," codenamed Project Rene, will be available as a free download when it's ready for release.
- What Electronic Arts Does: EA is one of the world's largest third-party video game publishers and has transitioned from a console-based video game publisher to the one of the largest publishers on consoles, PC, and mobile.
BJ's Wholesale Club
- The Trade: BJ's Wholesale Club Holdings, Inc. (NYSE: BJ) EVP, Strategy & Development William Werner sold a total of 30,090 shares at an average price of $60.38. The insider received around $1.82 million from selling those shares.
- What’s Happening: BJ's Wholesale Club reported better-than-expected second-quarter earnings.
- What BJ's Wholesale Club Does: BJ's Wholesale Club Holdings Inc is a warehouse club and gas station operator.
- The Trade: Airbnb, Inc. (NASDAQ: ABNB) Chief Strategy Officer Nathan Blecharczyk sold a total of 40,000 shares at an average price of $133.22. The insider received around $5.33 million from selling those shares.
- What’s Happening: Payoneer extended and expanded its strategic partnership with Airbnb.
- What Airbnb Does: Started in 2008, Airbnb is the world's largest online alternative accommodation travel agency, also offering booking services for boutique hotels and experiences.
- The Trade: Yelp Inc. (NYSE: YELP) Chief Operating Officer Joseph Nachman sold a total of 6,000 shares at an average price of $42.30. The insider received around $253,793 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.
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