Benzinga - by Lisa Levin, Benzinga Editor.
The Nasdaq 100 closed higher by over 250 points 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.
Trade Desk
- The Trade: Trade Desk Inc (NASDAQ: TTD) President and CEO Jeffrey Terry Green sold a total of 153,524 shares at an average price of $72.95. The insider received around $11.2 million from selling those shares.
- What’s Happening: New Street Research upgraded Trade Desk from Sell to Neutral.
- What Trade Desk Does: The Trade Desk provides a self-service platform that helps advertisers and ad agencies programmatically find and purchase digital ad inventory (display, video, audio, native, and social) on different devices like computers, smartphones, digital out of home, and connected TVs.
Snap
- The Trade: Snap Inc (NYSE: SNAP) General Counsel Michael Osullivan sold a total of 13,000 shares at an average price of $9.93. The insider received around $129,117 from selling those shares.
- What’s Happening: Snap reported better-than-expected third-quarter financial results and announced a $500 million buyback program.
- What Snap Does: Snap, which refers to itself as a camera company, has one of the most popular social networking apps, Snapchat, in developed regions such as North America and Europe.
- The Trade: Accenture Plc (NYSE: ACN) General Counsel/Corp Secretary Joel Unruch sold a total of 1,083 shares at an average price of $300.00. The insider received around $324,900 from selling those shares.
- What’s Happening: Accenture acquired The Shelby Group, a leading provider of digital procurement and optimization services.
- What Accenture Does: Accenture is a leading global IT-services firm that provides consulting, strategy, and technology and operational services.
- The Trade: Cloudflare Inc (NYSE: NET) Director Carl Ledbetter sold a total of 8,039 shares at an average price of $55.99. The insider received around $450,091 from selling those shares.
- What’s Happening: Cloudflare reported third-quarter revenue of $335.6 million, which beat the analyst consensus estimate of $330.53 million by 1.53 percent and up 32% year-over-year.
- What Cloudflare Does: Cloudflare is a software company based in San Francisco, California, that offers security and web performance offerings by utilizing a distributed, serverless content delivery network, or CDN.
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