Electronic Arts, TD SYNNEX And 2 Other Stocks Insiders Are Selling

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The Nasdaq index 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.

ResMed

  • The Trade: ResMed Inc. RMD CFO Brett Sandercock sold a total of 12,574 shares at an average price of $233.13. The insider received around $2.93 million from selling those shares.
  • What’s Happening: ResMed reported better-than-expected third-quarter EPS and sales results.
  • What ResMed Does: ResMed is one of the largest respiratory care device companies globally, primarily developing and supplying flow generators, masks and accessories for the treatment of sleep apnea. Increasing diagnosis of sleep apnea combined with ageing populations and increasing prevalence of obesity is resulting in a structurally growing market.
  • Have a look at our premarket coverage here

Lincoln Educational Services

  • The Trade: Lincoln Educational Services Corporation LINC CFO and Treasurer Brian K Meyers sold a total of 106,015 shares at an average price of $6.43. The insider received around $681.85 thousand from selling those shares.
  • What’s Happening: Lincoln Educational posted upbeat quarterly sales results.
  • What Lincoln Educational Services Does: Lincoln Educational Services Corp provides diversified career-oriented post-secondary education to high school graduates and working adults.

Electronic Arts

  • The Trade: Electronic Arts Inc. EA Director Richard A Simonson sold a total of 10,000 shares at an average price of $125.66. The insider received around $1.26 million from selling those shares.
  • What’s Happening: EA reported fourth-quarter revenue of $1.874 billion. The company said net bookings increased 11% year-over-year to $1.946 billion.
  • 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.

TD SYNNEX

  • The Trade: TD SYNNEX Corporation SNX Chief Business Officer Simon Leung sold a total of 2,620 shares at an average price of $88.52. The insider received around $231.92 thousand from selling those shares.
  • What’s Happening: TD Synnex reported a first-quarter FY23 revenue decline of 2.2% year-over-year to $15.125 billion, missing the consensus of $15.750 billion.
  • What TD SYNNEX Does: TD Synnex Corp is a global distributor and solutions aggregator for the IT ecosystem. Its edge-to-cloud portfolio is anchored in some of the technology segments including cloud, cybersecurity, big data/analytics, IoT, mobility, and everything as a service.


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