Broadcom, Intuit And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed higher by 20 points 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.

Block

• The Trade: Block, Inc. SQ CFO and COO Amrita Ahuja sold a total of 3,787 shares at an average price of $77.81. The insider received around $294,666 from selling those shares.
• What’s Happening: Square and Afterpay sellers reached 70 million transactions over Black Friday and Cyber Monday, up 14% from last year.
• What Block Does: Founded in 2009, Block provides payment services to merchants, along with related services.

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Broadcom

• The Trade: Broadcom Inc. AVGO President and CEO Hock E Tan sold a total of 20,000 shares at an average price of $1,122.46. The insider received around $22.45 million from selling those shares. The company’s Director also disposed a total of 800 shares.
• What’s Happening: Broadcom reported mixed fourth-quarter results and issued FY24 revenue guidance above estimates.
• What Broadcom Does: Broadcom is the sixth-largest semiconductor company globally and has expanded into various software businesses, with over $30 billion in annual revenue.

Intuit

• The Trade: Intuit Inc. INTU Director Raul Vazquez sold a total of 1,631 shares at an average price of $622.92. The insider received around $1.02 million from selling those shares.
• What’s Happening: Intuit recently reported better-than-expected earnings for its fiscal first quarter.
• What Intuit Does: Intuit is a provider of small-business accounting software (QuickBooks), personal tax solutions (TurboTax), and professional tax offerings (Lacerte).

Autodesk

• The Trade: Autodesk, Inc. ADSK Director Stacy J Smith sold a total of 5,000 shares at an average price of $244.00. The insider received around $1.22 million from selling those shares.
• What’s Happening: Autodesk recently posted upbeat results for the third quarter.
• What Autodesk Does: Founded in 1982, Autodesk is an application software company that serves industries in architecture, engineering, and construction; product design and manufacturing; and media and entertainment.

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