US crude oil futures traded higher this morning on Friday. Investors, meanwhile, focused on some 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.
Zoom Video Communications
- The Trade: Zoom Video Communications, Inc. (NASDAQ:ZM) Chief Operating Officer Aparna Bawa sold a total of 2,404 shares at an average price of $116.06. The insider received around $279 thousand from selling those shares.
- What’s Happening: Zoom Video Communications recently announced the general availability of the Zoom Apps SDK.
- What Zoom Video Does: Zoom Video Communications provides a communications platform that connects people through video, voice, chat, and content sharing.
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Electronic Arts
- The Trade: Electronic Arts Inc. (NASDAQ:EA) CEO and Board Chairman Andrew Wilson sold a total of 8,182 shares at an average price of $123.05. The insider received around $1.01 million as a result of the transaction.
- What’s Happening: MoffettNathanson recently downgraded Electronic Arts from Buy to Neutral and raised the price target from $141 to $147.
- What Electronic Arts Does: EA is one of the world's largest third-party video game publishers and has transitioned from a console-based video game publisher to the one of the largest publishers on consoles, PC, and mobile.
Have a look at our premarket coverage here .
Great Ajax
- The Trade: Great Ajax Corp. (NYSE:AJX) 10% owner Alec Litowitz sold a total of 800,000 shares at an average price of $24.90. The insider received around $19.92 million from selling those shares.
- What’s Happening: Great Ajax, during May, posted Q1 EPS of $0.15.
- What Great Ajax Does: Great Ajax Corp is an externally managed real estate company. The company's primary business is acquiring, investing in and managing a portfolio of mortgage loans.
