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, they should not be the sole basis for 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, earning around $643,075 from the sale.
– What’s happening: Tesla has made changes to its referral program, making it more uniform across models and less rewarding for Model S/X buyers and referrers.
– What Tesla does: Founded in 2003 and based in Palo Alto, California, Tesla 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, receiving approximately $557,920 from the sale.
– What’s happening: German auto giant BMW will utilize Amazon’s cloud computing technology for the development of semi-autonomous driving features in its upcoming electric vehicles (EVs).
– What Amazon.com does: Amazon is a leading online retailer and one of the highest-grossing e-commerce aggregators, with significant net sales and estimated gross merchandise volume.
Walmart:
– John Rainey, Executive Vice President at Walmart, sold a total of 1,000 shares at an average price of $161.37, earning around $161,374 from the sale.
– What’s happening: Walmart is reportedly asking some of its pharmacists across the U.S. to voluntarily reduce their pay.
– What Walmart does: Walmart is the preeminent retailer in the United States, known for its 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, receiving approximately $1.55 million from the sale.
– What’s happening: Coinbase Global has introduced a new cryptocurrency lending service for U.S. institutional investors, aiming to fill the gap left by other companies in the market.
– What Coinbase Global does: Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States.
For more news and updates, you can visit Benzinga’s premarket coverage.