Amazon, GameStop And 2 Other Stocks Insiders Are Selling - Amazon.com (NASDAQ:AMZN), Docusign (NASDAQ:DOC

The Nasdaq 100 closed slightly higher on Monday. 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.

Amazon.com

The Trade: Amazon.com, Inc. (NASDAQ:AMZN) CEO Amazon Web Services Adam Selipsky sold a total of 1,000 shares at an average price of $128.95. The insider received around $128,952 from selling those shares.
What’s Happening: Amazon.com is set for its annual Prime Day event, with CEO Andy Jassy promising a shopping spree unlike any the Seattle-based company has hosted.
What Amazon.com 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.

Have a look at our premarket coverage here

GameStop

The Trade: GameStop Corp. (NYSE:GME) Chief Operating Officer Vinay Nir Patel sold a total of 122,073 shares at an average price of $22.58. The insider received around $2.76 million from selling those shares.
What’s Happening: GameStop reported worse-than-expected first-quarter results and announced it has appointed Ryan Cohen as executive chairman, terminating its former CEO.
What GameStop Does: GameStop Corp is a U.S. multichannel video game, consumer electronics, and services retailer. The company operates across Europe, Canada, Australia, and the United States.

Kellogg

The Trade: Kellogg Company (NYSE:K) 10% owner Kellogg W K Foundation sold a total of 100,000 shares at an average price of $67.10. The insider received around $6.71 million from selling those shares.
What’s Happening: Goldman Sachs upgraded the stock to Buy from Neutral.
What Kellogg Does: Founded in 1906, Kellogg is a leading global manufacturer and marketer of cereal, cookies, crackers, and other packaged foods. Its offerings are manufactured in 21 countries and marketed in more than 180 countries.

DocuSign

The Trade: DocuSign, Inc. (NASDAQ:DOCU) President, Field Operations Stephen Shute sold a total of 100,315 shares at an average price of $49.20. The insider received around $4.94 million from selling those shares.
What’s Happening: Morgan Stanley recently reiterated DocuSign with an Underweight and maintained a $49 price target.
What DocuSign Does: DocuSign offers the Agreement Cloud, a broad cloud-based software suite that enables users to automate the agreement process and provide legally binding e-signatures from nearly any device.

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