Amazon And 3 Other Stocks Insiders Are Selling

The Nasdaq Composite surged by over 200 points on Monday. 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.

Palo Alto Networks

• The Trade: Palo Alto Networks, Inc. PANW Director, EVP, Chief Technology Officer Nir Zuk sold a total of 36,000 shares at an average price of $168.45. The insider received around $6.06 million from selling those shares.
• What’s Happening: Palo Alto Networks, during August, reported better-than-expected Q4 results.
• What Palo Alto Networks Does: Palo Alto Networks is a pure-play cybersecurity vendor that sells security appliances, subscriptions, and support into enterprises, government entities, and service providers.

Also check this: Delta Air Lines To Rally Around 84%? Here Are 5 Other Price Target Changes For Tuesday

Amazon

• The Trade: Amazon.com, Inc. AMZN CEO Amazon Web Services Adam Selipsky sold a total of 1,020 shares at an average price of $114.77. The insider received around $117.07 thousand as a result of the transaction.
• What’s Happening: Kaleyra said it will be providing SMS services for Amazon Pay India as a preferred SMS provider.
• 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 in 2021.

Have a look at our premarket coverage here .

General Mills

• The Trade: General Mills, Inc. GIS Group President Jonathon Nudi sold a total of 25,902 shares at an average price of $77.50. The insider received around $2.01 million from selling those shares.
• What’s Happening: General Mills recently reported first-quarter FY23 sales growth of 4% year-on-year to $4.717 billion.
• What General Mills Does: General Mills is a leading global packaged food company that produces snacks, cereal, convenient meals, yogurt, dough, baking mixes and ingredients, pet food, and superpremium ice cream. Its largest brands are Nature Valley, Cheerios, Old El Paso, Yoplait, Pillsbury, Betty Crocker, BLUE, and Haagen-Dazs.

Maximus

• The Trade: Maximus, Inc. MMS General Counsel David Francis sold a total of 5,326 shares at an average price of $57.87. The insider received around $308.22 thousand from selling those shares.
• What’s Happening: Maximus, last month, was awarded Centers for Medicare & Medicaid Services contract for Contact Center Operations valued at $6.6 billion.
• What Maximus Does: Maximus Inc is an operator of government health and human services programs in the United States, United Kingdom, Canada, Australia, and Saudi Arabia.