Apple, Alphabet And 2 Other Stocks Executives Are Selling - Apple (NASDAQ:AAPL), Carvana (NYSE:CVNA)

The Nasdaq 100 closed higher by over 250 points during Monday's session. 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.

Alphabet

The Trade: Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) Director John L Hennessy sold a total of 700 shares at an average price of $165.00. The insider received around $115,500 from selling those shares.
What's Happening: Alphabet's autonomous driving tech unit Waymo introduced its sixth-generation hardware on Monday to reduce costs while simultaneously delivering more performance, including in winter.
What Alphabet Does: Alphabet is a holding company. Internet media giant Google is a wholly owned subsidiary. Google services account for nearly 90% of Alphabet’s revenue, of which more than 85% is from online ads.
Benzinga Pro's real-time newsfeed alerted to latest GOOGL news.

Carvana

The Trade: Carvana Co. (NYSE:CVNA) 10% owner ECG II SPE, LLC sold a total of 200,000 shares at an average price of $150.38. The insider received around $30.08 million from selling those shares.
What's Happening: On Aug. 7, Evercore ISI Group analyst Michael Montani maintained Carvana with an In-Line and lowered the price target from $150 to $142.
What Carvana Does: Carvana Co is an e-commerce platform for buying and selling used cars. The company derives revenue from used vehicle sales, wholesale vehicle sales and other sales and revenues.
Benzinga Pro’s charting tool helped identify the trend in CVNA stock.

Apple

The Trade: Apple Inc. (NASDAQ:AAPL) Principal Accounting Officer Chris Kondo sold a total of 8,706 shares at an average price of $225.00. The insider received around $1.96 million from selling those shares.
What's Happening: On Aug. 19, MoffettNathanson analyst Craig Moffett initiated coverage on Apple with a Neutral rating and announced a price target of $211.
What Apple Does: Apple is among the largest companies in the world, with a broad portfolio of hardware and software products targeted at consumers and businesses.
Benzinga Pro’s signals feature notified of a potential breakout in AAPL shares.

Starbucks

The Trade: Starbucks Corporation (NASDAQ:SBUX) CEO, North America Michael Aaron Conway sold a total of 3,250 shares at an average price of $94.03. The insider received around $305,598 from selling those shares.
What's Happening: Starbucks recently announced that Chipotle CEO and Chairman Brian Niccol has been named as Starbucks' new Chairman and Chief Executive Officer, effective Sept. 9.
What Starbucks Does: Starbucks is one of the most widely recognized restaurant brands in the world, operating more than 38,000 stores across more than 80 countries as of the end of fiscal 2023.
Benzinga Pro’s earnings calendar was used to track upcoming SBUX earnings reports.