The Nasdaq 100 closed higher by around 0.6% on Tuesday. 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.
CrowdStrike
– The Trade: CrowdStrike Holdings, Inc. (CRWD) Director Roxanne Austin sold a total of 15,000 shares at an average price of $176.42. The insider received around $2.65 million from selling those shares.
– What’s Happening: At the end of September, CrowdStrike in partnership with Amazon Web Services (AWS) announced the creation of the Amazon Web Services (AWS) & CrowdStrike Cybersecurity Startup Accelerator for EMEA-based startups.
– What CrowdStrike Does: CrowdStrike is a cloud-based cybersecurity company specializing in next-generation endpoint and cloud workload protection.
Have a look at our premarket coverage here.
Apple
– The Trade: Apple Inc. (AAPL) COO Jeffrey E Williams sold a total of 69,785 shares at an average price of $177.00. The insider received around $12.35 million from selling those shares. The company’s Senior Vice President, CFO Luca Maestri also sold 63695 shares at an average price of $178.29.
– What’s Happening: Barclays analyst Tim Long reiterated Apple with an Equal-Weight and maintained a $167 price target.
– What Apple Does: Apple designs a wide variety of consumer electronic devices, including smartphones (iPhone), tablets (iPad), PCs (Mac), smartwatches (Apple Watch), and AirPods, among others.
Amazon.com
– The Trade: Amazon.com, Inc. (AMZN) CEO Amazon Web Services Adam Selipsky sold a total of 1,000 shares at an average price of $125.39. The insider received around $125,385 from selling those shares.
– What’s Happening: Telsey Advisory Group analyst Joseph Feldman reiterated Amazon.com with an Outperform and maintained a $160 price target.
– What Amazon.com Does: Amazon is a leading online retailer and one of the highest-grossing e-commerce aggregators, with $386 billion in net sales and approximately $578 billion in estimated physical/digital online gross merchandise volume in 2021.
Jabil
– The Trade: Jabil Inc. (JBL) Director Steven Raymund sold a total of 30,000 shares at an average price of $129.93. The insider received around $3.9 million from selling those shares.
– What’s Happening: Jabil reported mixed fourth-quarter results and issued strong first-quarter earnings guidance.
– What Jabil Does: Jabil Inc is a United States-based company engaged in providing manufacturing services and solutions.
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