Insiders Selling Tesla, Amazon And This Tech Giant

The Nasdaq closed slightly higher 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.

Amazon.com

• The Trade: Amazon.com, Inc. AMZN CEO Amazon Web Services Adam Selipsky sold a total of 1,020 shares at an average price of $104.68. The insider received around $106.78 thousand from selling those shares.
• What’s Happening: Needham recently reiterated Amazon.com with a Buy and maintained a $120 price target.
• What Amazon.com 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

Microsoft

• The Trade: Microsoft Corporation MSFT EVP, Chief Marketing Officer Christopher C Capossela sold a total of 5,000 shares at an average price of $310.05. The insider received around $1.55 million from selling those shares.
• What’s Happening: According to Bloomberg, Microsoft, which is heavily invested in OpenAI's ChatGPT, is helping finance AMD's expansion into AI processors.
• What Microsoft Does: Microsoft develops and licenses consumer and enterprise software. It is known for its Windows operating systems and Office productivity suite.

Tesla

• The Trade: Tesla, Inc. TSLA CFO Zachary Kirkhorn sold a total of 3,750.75 shares at an average price of $162.70. The insider received around $610.25 thousand from selling those shares.
• What’s Happening: Tesla plans to construct a new crash test lab in Austin, Texas.
• What Tesla Does: Founded in 2003 and based in Palo Alto, California, Tesla is a vertically integrated sustainable energy company that also aims to transition the world to electric mobility by making electric vehicles.