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Insiders Shed Apple, Amazon And This Retail Exposure

Published 25/11/2022, 13:01
Updated 25/11/2022, 14:10
© Reuters.  Insiders Shed Apple, Amazon And This Retail Exposure

© Reuters. Insiders Shed Apple, Amazon And This Retail Exposure

Benzinga - The Dow Jones jumped by around 100 points 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.

Walmart (NYSE:WMT)

  • The Trade: Walmart Inc. (NYSE: WMT) Executive Vice President Rachel Brand sold a total of 4,853 shares at an average price of $150.66. The insider received around $731.13 thousand from selling those shares.
  • What’s Happening: Walmart recently reported better-than-expected Q3 results and raised its outlook.
  • What Walmart Does: Walmart, founded in 1945, engages in the operation of retail, wholesale, and other units worldwide.
Credit Suisse (SIX:CSGN), Autodesk (NASDAQ:ADSK) And Other Big Losers From Wednesday

Amazon.com (NASDAQ:AMZN)

  • The Trade: Amazon.com, Inc. (NASDAQ: AMZN) CEO Worldwide Amazon Stores Douglas J Herrington sold a total of 7,456 shares at an average price of $94.00. The insider received around $700.86 thousand as a result of the transaction.
  • What’s Happening: Amazon.com employees across 40 countries plan protests and walkouts during Black Friday sales.
  • What Amazon Does: Amazon.com, incorporated in 1994, engages in the retail sale of consumer products and subscriptions in North America and internationally.
Have a look at our premarket coverage here .

Apple

  • The Trade: Apple Inc (NASDAQ:AAPL). (NASDAQ: AAPL) Principal Accounting Officer Chris Kondo sold a total of 20,200 shares at an average price of $148.72. The insider received around $3 million from selling those shares.
  • What’s Happening: More than 20,000 employees, most of them new hires, have reportedly left a key Apple supplier’s main iPhone-making plant in Zhengzhou, China after violent protests broke out at the facility earlier this week over unpaid dues.
  • What Apple Does: Apple, headquartered in Cupertino, California designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

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