Benzinga - by Avi Kapoor, Benzinga Staff Writer.
The Nasdaq 100 closed higher by around 1% on Wednesday. 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.
Zoom Video Communications
- The Trade: Zoom Video Communications, Inc. (NASDAQ: ZM) CEO Eric S. Yuan sold a total of 4,842 shares at an average price of $63.66. The insider received around $308,225 from selling those shares.
- What’s Happening: Zoom Video said it will release its financial results for the fourth quarter after the closing bell on Feb. 26, 2024.
- What Zoom Video Does: Zoom Video Communications provides a communications platform that connects people through video, voice, chat, and content sharing.
Procore Technologies
- The Trade: Procore Technologies, Inc. (NYSE: PCOR) Director Connor Kevin J O sold a total of 15,384 shares at an average price of $71.96. The insider received around $1,107,046 from selling those shares.
- What’s Happening: JMP Securities analyst Joe Goodwin recently maintained Procore Technologies with a Market Outperform and raised the price target from $69 to $81.
- What Procore Technologies Does: Procore Technologies Inc is a cloud-based construction management software company. It generates revenue through subscriptions for access to its software products.
- The Trade: Seer, Inc. (NASDAQ: SEER) President and CFO David R. Horn sold a total of 3,608 shares at an average price of $1.67. The insider received around $6,015 from selling those shares.
- What’s Happening: Seer is expected to report financial results for the fourth quarter on Feb. 29, 2024.
- What Seer Does: Seer Inc is a biotechnology company. The company commercializes transformative products for researchers to unlock deep, unbiased biological information.
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