The Nasdaq 100 closed lower on Friday. 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.
- The Trade: Analog Devices, Inc. ADI EVP, Finance & CFO Prashanth Mahendrarajah sold a total of 2,200 shares at an average price of $195.26. The insider received around $429.58 thousand from selling those shares.
- What’s Happening: UPS recently reported better-than-expected Q4 EPS, raised its dividend and announced a $5 billion repurchase program.
- What Analog Devices Does: Analog Devices is a leading analog, mixed signal, and digital signal processing chipmaker.
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- The Trade: Qualcomm Inc QCOM Chief Technology Officer James H Thompson sold a total of 9,999 shares at an average price of $131.80. The insider received around $1.32 million from selling those shares.
- What’s Happening: Qualcomm announced series of 5G innovations including snapdragon X75 and X72 5G modem-RF systems.
- What Qualcomm Does: Qualcomm develops and licenses wireless technology and designs chips for smartphones.
- The Trade: Amazon.com, Inc. AMZN CEO Worldwide Amazon Stores Douglas J Herrington sold a total of 15,787 shares at an average price of $99.18. The insider received around $1.57 million from selling those shares.
- What’s Happening: Amazon recently reported worse-than-expected Q4 EPS.
- What Amazon Does: Amazon is a leading online retailer and one of the highest-grossing e-commerce aggregators, with $386 billion in net sales and approximately $578 billion in estimated physical/digital online gross merchandise volume in 2021.
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- The Trade: Airbnb Inc ABNB Director Joseph Gebbia sold a total of 499,999 shares at an average price of $136.78. The insider received around $68.39 million from selling those shares.
- What’s Happening: Airbnb recently reported Q4 financial results and issued Q1 2023 revenue guidance above estimates.
- What Airbnb Does: Started in 2008, Airbnb is the world's largest online alternative accommodation travel agency, also offering booking services for boutique hotels and experiences.
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