Tesla, Amazon And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed lower on Tuesday. 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.

Tesla

• The Trade: Tesla, Inc. TSLA CFO Zachary Kirkhorn sold a total of 3,750 shares at an average price of $261.00. The insider received around $978,750 from selling those shares.
• What’s Happening: Tesla, SpaceX CEO Elon Musk said on Tuesday that he will look into shipping costs of goods from the Tesla store for overseas customers.
• 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.

Have a look at our premarket coverage here

Amazon.com

• The Trade: Amazon.com, Inc. AMZN CEO Worldwide Amazon Stores Douglas J Herrington sold a total of 50,000 shares at an average price of $141.00. The insider received around $7.05 million from selling those shares.
• What’s Happening: After an upbeat second quarter, Amazon shared plans to launch the first two test satellites for its Project Kuiper constellation on United Launch Alliance's Atlas V rocket this fall.
• 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.

Zoom Video Communications

• The Trade: Zoom Video Communications, Inc. ZM Director Santiago Subotovsky sold a total of 2,067 shares at an average price of $68.58. The insider received around $141,746 from selling those shares.
• What’s Happening: Zoom Video Communications championed remote work with its video conferencing solutions in the post-Covid world, but it is now asking its employees to come back to the office.
• What Zoom Video Communications Does: Zoom Video Communications provides a communications platform that connects people through video, voice, chat, and content sharing.

Accenture

• The Trade: Accenture plc ACN CEO-Growth Markets Leonardo Framil sold a total of 3,000 shares at an average price of 311.52. The insider received around $934,548 from selling those shares.
• What’s Happening: Accenture expanded technology strategy capabilities with acquisition of Strongbow Consulting.
• What Accenture Does: Accenture is a leading global IT-services firm that provides consulting, strategy, and technology and operational services.

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