Benzinga - The Nasdaq 100 closed sharply higher 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.
Microsoft
- The Trade: Microsoft Corporation (NASDAQ: MSFT) EVP, Chief Marketing Officer Christopher C Capossela sold a total of 6,701 shares at an average price of $312.54. The insider received around $1.59 million from selling those shares.
- What’s Happening: The European Union's antitrust regulator has given its approval Monday to Microsoft’s proposed $68.7-billion acquisition of Activision Blizzard Inc.
- 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
- The Trade: S&P Global Inc. (NYSE: SPGI) Director, CEO & President Douglas Peterson sold a total of 7,500 shares at an average price of $358.96. The insider received around $2.69 million from selling those shares.
- What’s Happening: S&P Global reported better-than-expected first-quarter results.
- What S&P Global Does: S&P Global provides data and benchmarks to capital and commodity market participants. In 2021 and excluding IHS Markit, S&P Ratings was over 45% of the firm's revenue and over 55% of the firm's operating income.
- The Trade: Morgan Stanley (NYSE: MS) Raja Akram sold a total of 7,320 shares at an average price of $82.95. The insider received around $607.2 thousand from selling those shares.
- What’s Happening: Morgan Stanley is considering reducing its Asia-Pacific investment banking personnel by 7%, with China bearing the brunt of the cuts.
- What Morgan Stanley Does: Morgan Stanley is a global investment bank whose history, through its legacy firms, can be traced back to 1924.
- The Trade: Dropbox, Inc. (NASDAQ: DBX) Chief Legal Officer Bart Volkmer sold a total of 27,378 shares at an average price of $22.03. The insider received around $603.12 thousand from selling those shares.
- What’s Happening: Dropbox reported better-than-expected first-quarter results.
- What Dropbox Does: Dropbox is a leading provider of cloud-storage and content collaboration tools with an emphasis on individuals and SMB.
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