Amazon, Roblox And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed lower on Wednesday. Investors, meanwhile, focused on some notable insider trades.

When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company’s prospects or that they view the stock as being overpriced. 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 1,000 shares at an average price of $129.27. The insider received around $129,266 from selling those shares.
• What’s Happening: Amazon reduced the purchase consideration for iRobot’s takeover by 15%.
• 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

Roblox

• The Trade: Roblox Corporation RBLX Director Gregory Baszucki sold a total of 8,333 shares at an average price of $39.93. The insider received around $332,710 from selling those shares.
• What’s Happening: A data breach from 2017-2020 exposed the sensitive information of thousands of Roblox creators. The data breach impacted attendees at the Roblox Developer Conference between 2017-2020.
• What Roblox Does: Roblox operates an online video game platform that lets young gamers create, develop, and monetize games (or "experiences") for other players.

United Airlines Holdings

• The Trade: United Airlines Holdings, Inc. UAL EVP and CFO Gerald Laderman sold a total of 4,491 shares at an average price of $57.05. The insider received around $256,212 from selling those shares.
• What’s Happening: United Airlines reported better-than-expected second-quarter results and issued strong FY23 guidance.
• What United Airlines Does: United Airlines is a major U.S. network carrier with hubs in San Francisco, Chicago, Houston, Denver, Los Angeles, New York/Newark, and Washington, D.C.

Halliburton

• The Trade: Halliburton Company HAL Senior Vice Pres - Tax Myrtle Jones sold a total of 10,000 shares at an average price of $38.31. The insider received around $383,050 from selling those shares.
• What’s Happening: Halliburton reported second-quarter FY23 revenue growth of 14.3% year-over-year to $5.798 billion, missing the consensus of $5.86 billion.
• What Halliburton Does: Halliburton is one of the three largest oilfield service firms in the world, offering superior expertise in a number of business lines, including completion fluids, wireline services, cementing, and countless others.

Check This Out: Investor Sentiment Declines After Fed Raises Interest Rates By 0.25%