The Nasdaq 100 experienced a decline of over 100 points on Wednesday, but investors were more interested in some noteworthy insider trades. Insider sales can indicate various things, such as preplanned sales or concerns about a company’s prospects. However, it’s important to note that insider sales shouldn’t be the sole factor in making investment decisions.
Let’s take a look at a few recent insider sales. For more details, you can visit Benzinga’s insider transactions platform.
Tesla:
– Xiaotong Zhu, SVP of Automotive at Tesla, sold a total of 2,500 shares at an average price of $257.23. This sale earned the insider approximately $643,075. In other news, Tesla has made changes to its referral program, making it more uniform across models and less rewarding for Model S/X buyers and referrers. Tesla, founded in 2003 and based in Palo Alto, California, is a vertically integrated sustainable energy company that aims to transition the world to electric mobility.
Amazon.com:
– Douglas J Herrington, CEO Worldwide Amazon Stores, sold a total of 4,000 shares of Amazon.com at an average price of $139.48. The insider received around $557,920 from the sale. In other news, German auto giant BMW will be utilizing Amazon’s cloud computing technology for the development of semi-autonomous driving features in its upcoming electric vehicles (EVs). Amazon.com is a leading online retailer and one of the highest-grossing e-commerce aggregators.
Walmart:
– John Rainey, Executive Vice President at Walmart, sold a total of 1,000 shares at an average price of $161.37. The insider received around $161,374 from the sale. Reports suggest that Walmart is asking some of its pharmacists across the U.S. to voluntarily reduce their pay. Walmart serves as the preeminent retailer in the United States, focusing on operational efficiency and offering affordable goods to consumers.
Coinbase Global:
– Lawrence J Brock, Chief People Officer at Coinbase Global, sold a total of 19,814 shares at an average price of $78.34. The insider received around $1.55 million from the sale. Coinbase Global recently introduced a new cryptocurrency lending service for U.S. institutional investors, aiming to fill the gap left by companies like BlockFi Inc. and Genesis Global. Coinbase is the leading cryptocurrency exchange platform in the United States.
For more news and updates, you can check out Benzinga’s premarket coverage. Remember, this article is for informational purposes only and does not provide investment advice.