Verizon, S&P Global And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed lower by over 1% 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.

Robinhood Markets

• The Trade: Robinhood Markets, Inc. HOOD Chief Creative Officer Baiju Bhatt sold a total of 81,548 shares at an average price of $10.68. The insider received around $870,859 from selling those shares.
• What’s Happening: Robinhood Markets reported upbeat earnings and sales results for its second quarter.
• What Robinhood Does: Robinhood Markets Inc is creating a modern financial services platform. It designs its own products and services and delivers them through a single, app-based cloud platform supported by proprietary technology.

Have a look at our premarket coverage here

S&P Global

• The Trade: S&P Global Inc. SPGI President, Market Intelligence Jason Adam Kansler sold a total of 10,000 shares at an average price of $387.38. The insider received around $3.87 million from selling those shares.
• What’s Happening: S&P Global posted downbeat quarterly earnings.
• What S&P Global Does: S&P Global provides data and benchmarks to capital and commodity market participants.

Verizon Communications

• The Trade: Verizon Communications Inc. VZ EVP & Chief HR Officer Samantha Hammock sold a total of 12,557 shares at an average price of $33.29. The insider received around $418,023 from selling those shares.
• What’s Happening: The company clocked a sales decline of 3.5% year-on-year to $32.6 billion, missing the consensus of $33.3 billion.
• What Verizon Does: Verizon Communications is primarily a wireless business (it provides about 70% of service revenue and nearly all operating income).

eBay

• The Trade: eBay Inc. EBAY SVP, Chief Product Officer Edward O Garcia sold a total of 5,679 shares at an average price of $43.36. The insider received around $246,241 from selling those shares.
• What’s Happening: eBay reported second-quarter financial results, including a 2% decline in Gross Merchandise Volume.
• What eBay Does: eBay operates one of the largest e-commerce marketplaces in the world, with $74 billion in 2022 gross merchandise volume, or GMV, rendering the firm a top 10 global e-commerce company.

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