Insiders Selling Snap, Airbnb And This Crypto-Related Stock

The Dow Jones dropped by around 150 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.

Snap

• The Trade: Snap Inc. SNAP CFO Derek Andersen sold a total of 67,794 shares at an average price of $8.57. The insider received around $581.22 thousand from selling those shares.
• What’s Happening: Jefferies recently downgraded the stock from Buy to Hold and lowered its price target from $12 to $10.
• 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 out: CNN Fear & Greed Index Moves To 'Fear' Zone Amid Recession Concerns

Riot Blockchain

• The Trade: Riot Blockchain, Inc. RIOT EVP & General Counsel William Richard Jackman sold a total of 25,000 shares at an average price of $4.00. The insider received around $100 thousand as a result of the transaction.
• What’s Happening: Riot Blockchain, last month, reported worse-than-expected third-quarter sales and EPS results.
• What Riot Blockchain Does: Riot Blockchain Inc is focused on building, supporting, and operating blockchain technologies.

Have a look at our premarket coverage here

Airbnb

• The Trade: Airbnb, Inc. ABNB Chief Technology Officer Aristotle Balogh sold a total of 2,500 shares at an average price of $91.55. The insider received around $228.88 thousand from selling those shares.
• What’s Happening: Morgan Stanley recently downgraded the stock from Equal-Weight to Underweight and lowered its price target from $110 to $80.
• What Airbnb Does: Started in 2008, Airbnb is the world's largest online alternative accommodation travel agency, also offering booking services for boutique hotels and experiences.