The Nasdaq 100 saw a slight increase of approximately 0.2% on Thursday, but investors were more interested in some notable insider trades.
Insider sales can indicate various things, such as preplanned sales or concerns about the company’s prospects or overpricing of the stock. However, it’s important to note that insider sales should not be the sole factor in making investment or trading decisions. They can simply provide additional conviction for a selling decision.
Let’s take a look at a few recent noteworthy insider sales:
NETGEAR:
– Chief Legal Officer Andrew Wonki Kim of NETGEAR, Inc. (NASDAQ:NTGR) sold a total of 5,889 shares at an average price of $14.50. Kim received over $85,391 from the sale.
– Netgear recently reported its fourth-quarter financial results, which included first-quarter net revenue guidance below estimates.
– Netgear Inc is a provider of networking solutions, with connected home and Small and Medium Businesses (SMB) as its reportable segments.
Electronic Arts:
– Chief Legal Officer Jacob J. Schatz of Electronic Arts Inc. (NASDAQ:EA) sold a total of 1,000 shares at an average price of $143.24. Schatz received around $143,240 from the sale.
– In 2021, Electronic Arts Inc announced that it was working on a college football video game, generating excitement among fans. The release of the game is now just months away after settling lawsuits.
– EA is one of the world’s largest third-party video game publishers and has expanded from console-based publishing to become one of the largest publishers across consoles, PC, and mobile platforms.
Amazon.com:
– Executive Chair Jeffrey P Bezos of Amazon.com, Inc. (NASDAQ:AMZN) sold a total of 11,997,698 shares at an average price of $169.50. Bezos received around $2 billion from the sale.
– Amazon.com recently announced plans to lay off hundreds of employees at its One Medical and Pharmacy units as part of a significant cost-cutting initiative.
– Amazon is a leading online retailer and one of the highest-grossing e-commerce aggregators, with $386 billion in net sales and an estimated $578 billion in physical/digital online gross merchandise volume in 2021.
Royal Caribbean Cruises:
– President & CEO of Royal Caribbean Intl, Michael W Bayley, sold a total of 11,753 shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) at an average price of $116.01. Bayley received around $1.36 million from the sale.
– Royal Caribbean recently signed an agreement with Chantiers de l’Atlantique for its next oasis class ship.
– Royal Caribbean is the world’s second-largest cruise company, operating 65 ships across five global and partner brands in the cruise vacation industry, with eight more ships on order.
These insider sales provide some interesting insights into the market. For more insider transactions, be sure to check out Benzinga’s insider transactions platform.
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