Amazon.com, Accenture And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed higher by around 44 points 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.

Kellanova

• The Trade: Kellanova K 10% owner Kellogg W K Foundation sold a total of 77,800 shares at an average price of $49.75. The insider received around $3.87 million from selling those shares.
• What’s Happening: Barclays analyst Andrew Lazar recently maintained Kellanova with an Underweight and lowered the price target from $69 to $57.
• What Kellanova Does: Following its split from the North American cereal business, Kellanova (previously the global snacking arm of Kellogg) is a leading global manufacturer and marketer of salty snacks, snack bars, frozen breakfast fare, meat alternatives, and other packaged foods.

Have a look at our premarket coverage here

Accenture

• The Trade: Accenture plc ACN Chief Leadership & HR Officer Ellyn Shook sold a total of 5,250 shares at an average price of $298.48. The insider received around $1.57 million from selling those shares.
• What’s Happening: Accenture said it acquired cybersecurity services company MNEMO Mexico.
• What Accenture Does: Accenture is a leading global IT-services firm that provides consulting, strategy, and technology and operational services.

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 $129,270 from selling those shares.
• What’s Happening: The company has been breaking records related to its “Thursday Night Football” broadcasts for the National Football League.
• 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.

FirstCash Holdings

• The Trade: FirstCash Holdings, Inc. FCFS 10% owner Douglas R Rippel Revocable Trust sold a total of 89,922 shares at an average price of $103.10. The insider received around $9.27 million from selling those shares.
• What’s Happening: The company recently posted better-than-expected second-quarter results.
• What FirstCash Holdings Does: FirstCash Holdings Inc operates pawn stores in the United States and Latin America. Its primary business involves making small loans secured by personal property.

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