Airbnb, Chewy And 2 Other Stocks Insiders Are Selling - Airbnb (NASDAQ:ABNB), Chewy (NYSE:CHWY)

The Nasdaq 100 closed lower by over 100 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.

Airbnb

The Trade: Airbnb, Inc. (NASDAQ:ABNB) Chief Accounting Officer David Bernstein sold a total of 3,402 shares at an average price of $123.59. The insider received around $420,453 from selling those shares.
What’s Happening: Keybanc analyst Justin Patterson recently downgraded Airbnb from Overweight to Sector Weight.
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.

Have a look at our premarket coverage here

Chewy

The Trade: Chewy, Inc. (NYSE:CHWY) Interim CFO and CAO Stacy Bowman sold a total of 11,423 shares at an average price of $18.24. The insider received around $208,356 from selling those shares.
What’s Happening: B of A Securities analyst Curtis Nagle reinstated Chewy with an Underperform and announced a $16 price target.
What Chewy Does: Chewy is the largest e-commerce pet care retailer in the U.S., generating $10.1 billion in 2022 sales across pet food, treats, hard goods, and pharmacy categories.

JFrog

The Trade: JFrog Ltd. (NASDAQ:FROG) CEO Haim ben Shlomi sold a total of 45,860 shares at an average price of $23.11. The insider received around $1.06 million from selling those shares.
What’s Happening: JFrog disclosed the appointment of Ed Grabscheid as the new Chief Financial Officer (CFO), effective Jan. 1, 2024.
What JFrog Does: JFrog Ltd provides an end-to-end, hybrid, universal DevOps Platform that powers and controls the software supply chain, enabling organizations to continuously and securely deliver software updates across any system.

Squarespace

The Trade: Squarespace, Inc. (NYSE:SQSP) CEO Anthony Casalena sold a total of 40,973 shares at an average price of $29.97. The insider received around $1.23 million from selling those shares.
What’s Happening: Squarespace recently priced secondary offering of 5 million class A common shares at $29 per share.
What Squarespace Does: Squarespace is a provider of subscription-based website-building software and hosting services primarily servicing entrepreneurs and micro businesses.

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