Amazon, Moderna And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed slightly higher on Monday. 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 Senior Vice President David Zapolsky sold a total of 42,816 shares at an average price of $145.13. The insider received around $6.21 million from selling those shares.
• What’s Happening: Wedbush reiterated Amazon.com with an Outperform and maintained a $180 price target.
• What Amazon 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

Electronic Arts

• The Trade: Electronic Arts Inc. EA Chief Legal Officer Jacob J Schatz sold a total of 1,000 shares at an average price of $122.34. The insider received around $122,340 from selling those shares.
• What’s Happening: Video game director Stig Asmussen, known for his role in reviving Electronic Arts’ Star Wars game franchise, is bidding farewell to the company.
• What Electronic Arts Does: EA is one of the world's largest third-party video game publishers and has transitioned from a console-based video game publisher to the one of the largest publishers on consoles, PC, and mobile.

Pinterest

• The Trade: Pinterest, Inc. PINS Chief People Officer Christine Deputy sold a total of 45,153 shares at an average price of $26.48. The insider received around $1.2 million from selling those shares.
• What’s Happening: Pinterest reported a revenue beat for the second quarter.
• What Pinterest Does: Pinterest is an online product and idea discovery platform that helps users gather ideas on everything from recipes to cook to destinations to travel to.

Moderna

• The Trade: Moderna, Inc. MRNA President Stephen Hoge sold a total of 15,000 shares at an average price of $112.99. The insider received around $1.69 million from selling those shares.
• What’s Happening: The EMA Committee for Medicinal Products for Human Use adopted an opinion recommending authorization of the company's updated COVID-19 vaccine in the EU.
• What Moderna Does: Moderna is a commercial-stage biotech that was founded in 2010 and had its initial public offering in December 2018. The firm's mRNA technology was rapidly validated with its COVID-19 vaccine, which was authorized in the United States in December 2020.

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