The Nasdaq 100 closed lower on Wednesday, but investors were more interested in some recent insider trades. Insider sales can provide insight into a company’s prospects or indicate that the stock is overpriced. However, they should not be the sole basis for investment decisions. Here are a few notable insider sales:
– Amazon.com: Amazon Web Services CEO Adam Selipsky sold 1,000 shares of Amazon.com, Inc. (AMZN) at an average price of $129.27, earning around $129,266 from the sale. Amazon also reduced the purchase consideration for iRobot’s takeover by 15%. Amazon is a leading online retailer with impressive net sales and gross merchandise volume.
– Roblox: Roblox Corporation Director Gregory Baszucki sold 8,333 shares of Roblox (RBLX) at an average price of $39.93, making approximately $332,710. The company recently experienced a data breach from 2017-2020, impacting the sensitive information of Roblox creators. Roblox operates an online video game platform for young gamers.
– United Airlines Holdings: United Airlines Holdings EVP and CFO Gerald Laderman sold 4,491 shares of United Airlines (UAL) at an average price of $57.05, receiving around $256,212. The airline reported better-than-expected second-quarter results and issued strong guidance for FY23. United Airlines is a major U.S. network carrier.
– Halliburton: Halliburton Company Senior Vice Pres – Tax Myrtle Jones sold 10,000 shares of Halliburton (HAL) at an average price of $38.31, earning approximately $383,050. The company reported second-quarter FY23 revenue growth but fell short of consensus estimates. Halliburton is one of the largest oilfield service firms globally.
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