Electronic Arts, Zillow Group And 2 Other Stocks Insiders Are Selling

The S&P 500 closed lower by over 1% on Tuesday. 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.

Electronic Arts

• The Trade: Electronic Arts Inc. EA CEO and Board Chair Andrew Wilson sold a total of 2,899 shares at an average price of $125.61. The insider received around $364.14 thousand from selling those shares.
• What’s Happening: Deutsche Bank recently maintained Electronic Arts with a Hold and raised the price target from $125 to $135.
• 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.
• Have a look at our premarket coverage here

Zillow Group

• The Trade: Zillow Group, Inc. Z President of Zillow Susan Daimler sold a total of 17,185 shares at an average price of $45.51. The insider received around $782.08 thousand from selling those shares.
• What’s Happening: Zillow Group reported a 90% decline in revenue year-over-year for the first quarter of 2023 amid the still tumultuous housing market.
• What Zillow Group Does: Zillow Group Inc is an Internet-based real estate company that offers its customers an on-demand experience for selling, buying, renting, or financing with transparency and ease The group works with real estate agents, brokers, builders, property managers, and landlords to pair technology with top-notch service.

Intercontinental Exchange

• The Trade: Intercontinental Exchange, Inc. ICE SVP, HR & Administration Douglas Foley sold a total of 1,600 shares at an average price of $108.48. The insider received around $173.57 thousand from selling those shares.
• What’s Happening: Intercontinental Exchange reported record trading in U.S. Renewable Identification Numbers (RINs) led by strong demand.
• What Intercontinental Exchange Does: Intercontinental Exchange is a vertically integrated operator of financial exchanges and provides ancillary data products.

Henry Schein

• The Trade: Henry Schein, Inc. HSIC Director, EVP, Chief Strategic Officer Mark E Mlotek sold a total of 24,747 shares at an average price of $76.68. The insider received around $1.9 million from selling those shares.
• What’s Happening: Henry Schein reported worse-than-expected first-quarter financial results lowered FY23 adjusted EPS guidance.
• What Henry Schein Does: Henry Schein Inc is a solutions company for healthcare professionals powered by a network of people and technology.

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