Although consumer confidence indicator in the Eurozone dropped by 0.3 points from a month ago to -8.8 in January, there were a few notable insider trades.
When insiders sell shares, it indicates their concern in the company’s prospects or that they view the stock as being overpriced. Either way, this signals an opportunity to go short on the stock. 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.
Alphabet
- The Trade: Alphabet Inc. (NASDAQ:GOOG) CEO Sundar Pichai disposed a total of 3,000 shares at an average price of $2,720.83. The insider received around $8.16 million as a result of the transaction.
- What’s Happening: Alphabet’s Google announced Privacy Sandbox, a multi-year initiative to build more private advertising solutions.
- What Alphabet Does: Alphabet Inc is a holding company, with Google, the Internet media giant, as a wholly owned subsidiary. Google generates 99% of Alphabet revenue, of which more than 85% is from online ads. Google's other revenue is from sales of apps and content on Google Play and YouTube, as well as cloud service fees and other licensing revenue.
Snap
- The Trade: Snap Inc. (NYSE:SNAP) Chief Financial Officer Derek Andersen sold a total of 26,111 shares at an average price of $39.98. The insider received around $1.04 million from selling those shares.
- What’s Happening: Snap recently priced $1.3 billion 0.125% convertible senior notes due 2028 in an upsized private institutional offering.
- What Snap Does: Snap, which refers to itself as a camera company, has one of the most popular social networking apps, Snapchat, in developed regions such as North America and Europe.
Also check this: 4 Penny Stocks Insiders Are Buying
Amazon.com
- The Trade: Amazon.com, Inc. (NASDAQ:AMZN) CEO Amazon Web Services Adam Selipsky sold a total of 679 shares at an average price of $3,150.92. The insider received $2.14 million as a result of the transaction.
- What’s Happening: Amazon.com agreed to accept Visa's cards across its global network, Bloomberg reported.
- What Amazon 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, or GMV, in 2021.
HP
- The Trade: HP Inc. (NYSE:HPQ) Chief Legal Officer Harvey Anderson sold a total of 8,939 shares at an average price of $36.84. The insider received around $329.31 thousand from selling those shares.
- What’s Happening: HP Inc. recently announced the acquisition of Choose Packaging.
- What HP Does: HP Inc. is a leading provider of computers, printers, and printer supplies.
Delta Air Lines
- The Trade: Delta Air Lines, Inc. (NYSE:DAL) EVP Rahul D Samant sold a total of 11,885 shares at an average price of $44.37. The insider received around $527.34 thousand from selling those shares.
- What’s Happening: Delta Air Lines, last month, reported better-than-expected Q4 EPS and sales results.
- What Delta Air Lines Does: Atlanta-based Delta Air Lines is one of the world's largest airlines, with a network of over 300 destinations in more than 50 countries.
