Adobe, Electronic Arts And This Financial Services Stock Insiders Are Selling

The Nasdaq Composite closed 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.

Adobe

• The Trade: Adobe Inc. ADBE Director John Warnock sold a total of 3,000 shares at an average price of $364.43. The insider received around $1.09 million from selling those shares.
• What’s Happening: Adobe recently unveiled generative AI services.
• What Adobe Does: Adobe provides content creation, document management, and digital marketing and advertising software and services to creative professionals and marketers for creating, managing, delivering, measuring, optimizing and engaging with compelling content multiple operating systems, devices and media.

Have a look at our premarket coverage here

Electronic Arts

• The Trade: Electronic Arts Inc. EA CEO and Board Chair Andrew Wilson sold a total of 5,000 shares at an average price of $128.92. The insider received around $644.6 thousand from selling those shares.
• What’s Happening: On March 29, Electronic Arts disclosed a restructuring plan to reduce headcount by approximately 6% of the company's workforce, in addition to office space reductions.
• What Electronic Arts Does: EA is one of the world's largest third-party video game publishers and has transitioned from a console-based video game publisher to the one of the largest publishers on consoles, PC, and mobile.

Apollo Global Management

• The Trade: Apollo Global Management, Inc. APO MJH Partners II LLC sold a total of 63,988 shares at an average price of $63.36. The insider received around $4.05 million from selling those shares.
• What’s Happening: Apollo Global Management agreed to purchase $500m of new series of convertible preferred stock of Edtech Company Cengage Group.
• What Apollo Global Management Does: Apollo Global Management Inc is an alternative investment manager.

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