The Nasdaq 100 closed lower on Tuesday, 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, but they shouldn’t be the sole basis for investment decisions. Here are a few notable insider sales:
– Tesla’s CFO, Zachary Kirkhorn, sold 3,750 shares of Tesla (TSLA) at an average price of $261.00, earning around $978,750 from the sale. Meanwhile, Elon Musk, CEO of Tesla and SpaceX, announced plans to look into shipping costs for overseas customers.
– Amazon’s CEO Worldwide Amazon Stores, Douglas J Herrington, sold 50,000 shares of Amazon.com (AMZN) at an average price of $141.00, making approximately $7.05 million. Following a successful second quarter, Amazon revealed its intention to launch the first two test satellites for its Project Kuiper constellation this fall.
– Santiago Subotovsky, a director at Zoom Video Communications (ZM), sold 2,067 shares at an average price of $68.58, earning around $141,746. Despite championing remote work during the pandemic, Zoom is now asking employees to return to the office.
– Leonardo Framil, CEO-Growth Markets of Accenture (ACN), sold 3,000 shares at an average price of $311.52, receiving approximately $934,548. Accenture recently expanded its technology strategy capabilities through the acquisition of Strongbow Consulting.
These insider sales provide interesting insights into the activities of these companies. For more information on insider transactions, you can visit Benzinga’s insider transactions platform.