Amazon, Walmart And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed higher by around 1.2% on Friday. 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.

Ciena

• The Trade: Ciena Corporation CIEN President and CEO Gary B Smith sold a total of 4,166 shares at an average price of $42.15. The insider received around $175,614 from selling those shares.
• What’s Happening: Ciena reported upbeat third-quarter results.
• What Ciena Does: Ciena Corp is a network strategy and technology company. It provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks.

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Amkor Technology

• The Trade: Amkor Technology, Inc. AMKR EVP and General Counsel Mark N Rogers sold a total of 5,000 shares at an average price of $23.84. The insider received around $119,200 from selling those shares.
• What’s Happening: Amkor Technology reported a year-over-year decrease in third-quarter EPS results and issued fourth-quarter revenue guidance below estimates.
• What Amkor Technology Does: Amkor Technology Inc is a provider of outsourced semiconductor packaging and test services to integrated device manufacturers, fabless semiconductor companies, and contract foundries.

Walmart

• The Trade: Walmart Inc. WMT Executive Vice President John Rainey sold a total of 1,000 shares at an average price of $164.37. The insider received around $164,371 from selling those shares.
• What’s Happening: Walmart plans to open its fifth 'next-generation' fulfillment center in Stockton, California, in 2026.
• What Walmart Does: Walmart serves as the preeminent retailer in the United States, with its strategy predicated on superior operating efficiency and offering the lowest priced goods to consumers to drive robust store traffic and product turnover.

Amazon.com

• The Trade: Amazon.com, Inc. AMZN CEO Worldwide Amazon Stores Douglas J Herrington sold a total of 4,000 shares at an average price of $133.98. The insider received around $535,920 from selling those shares.
• What’s Happening: The Federal Trade Commission (FTC) has leveled serious allegations against Amazon.com, claiming the e-commerce giant engaged in deceptive practices that increased consumer prices by over a billion dollars.
• 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.

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