Benzinga - by Lisa Levin, Benzinga Editor.
The Nasdaq 100 closed lower by 0.25% 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.
NVIDIA
The Trade: NVIDIA Corporation (NASDAQ: NVDA) Director Dawn E Hudson sold a total of 11,000 shares at an average price of $477.77. The insider received around $5.26 million from selling those shares.
What's Happening: NVIDIA's CEO, Jensen Huang, reportedly stated that it could take the U.S. up to 20 years to become independent from foreign chip manufacturing.
What NVIDIA Does: Nvidia is a leading developer of graphics processing units.
Have a look at our premarket coverage here
Home Depot
The Trade: The Home Depot, Inc. (NYSE: HD) EVP, Merchandising William Bastek sold a total of 1,612 shares at an average price of $313.90. The insider received around $506,007 from selling those shares.
What's Happening: On Nov. 14, Home Depot reported better-than-expected third-quarter results.
What Home Depot Does: Home Depot is the world's largest home improvement specialty retailer, operating more than 2,300 warehouse-format stores offering more than 30,000 products in store and 1 million products online in the United States, Canada, and Mexico.
Zoom Video Communications
The Trade: Zoom Video Communications, Inc. (NASDAQ: ZM) Director Santiago Subotovsky sold a total of 2,067 shares at an average price of $66.73. The insider received around $137,932 from selling those shares.
What's Happening: Zoom Video recently raised its guidance as it reported better-than-expected revenue.
What Zoom Video Does: Zoom Video Communications provides a communications platform that connects people through video, voice, chat, and content sharing.
Salesforce
The Trade: Salesforce, Inc. (NYSE: CRM) Chair and CEO Marc Benioff sold a total of 15,000 shares at an average price of $230.13. The insider received around $3.45 million from selling those shares.
What's Happening: Salesforce reported third-quarter financial results and issued FY24 guidance above estimates.
What Salesforce Does: Salesforce Inc provides enterprise cloud computing solutions. The company offers customer relationship management technology that brings companies and customers together.
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