HP, Zoom Video And 2 Other Stocks Insiders Are Selling - FirstCash Holdings (NASDAQ:FCFS), HP (NYSE:HPQ)

The Nasdaq 100 closed lower by over 50 points on Thursday. 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.

HP

The Trade: HP Inc. (NYSE:HPQ) 10% owner Warren E Buffett sold a total of 3,067,508 shares at an average price of $26.20. The insider received around $80.38 million from selling those shares.
What’s Happening: B of A Securities upgraded HP from Underperform to Buy and announced a $33 price target.
What HP Does: HP (formerly Hewlett-Packard) is a behemoth in the PC and printing markets. It has focused on these markets since it exited IT infrastructure in 2015 with the split from Hewlett Packard Enterprise.

Have a look at our premarket coverage here

FirstCash Holdings

The Trade: FirstCash Holdings, Inc. (NASDAQ:FCFS) 10% owner Douglas R. Rippel Revocable Trust sold a total of 83,238 shares at an average price of $100.29. The insider received around $8.35 million from selling those shares.
What’s Happening: The company recently posted better-than-expected second-quarter results.
What FirstCash Holdings Does: FirstCash Holdings Inc operates pawn stores in the United States and Latin America. Its primary business involves making small loans secured by personal property.

Zoom Video Communications

The Trade: Zoom Video Communications, Inc. (NASDAQ:ZM) Director Santiago Subotovsky sold a total of 2,067 shares at an average price of $68.63. The insider received around $141,860 from selling those shares.
What’s Happening: Strengthening its competition with Microsoft’s Teams and taking on Alphabet’s Google Docs, Zoom Video unveiled AI-powered innovations at Zoomtopia 2023.
What Zoom Video Does: Zoom Video Communications provides a communications platform that connects people through video, voice, chat, and content sharing.

Vertex Pharmaceuticals

The Trade: Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) EVP and CMO Carmen Bozic sold a total of 5,651 shares at an average price of $345.28. The insider received around $1.95 million from selling those shares.
What’s Happening: Vertex presented updated VX-880 results from ongoing Phase 1/2 study in Type 1 diabetes.
What Vertex Pharmaceuticals Does: Vertex Pharmaceuticals is a global biotechnology company that discovers and develops small-molecule drugs for the treatment of serious diseases.

Check This Out: Top 2 Industrials Stocks You May Want To Dump In Q4

FCFSFirstCash Holdings Inc

VRTXVertex Pharmaceuticals Inc

$442.350.52%

ZMZoom Communications Inc

$82.07-0.88%

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