ZoomInfo And 2 Other Stocks Sold By Insiders

Although gold futures traded higher this morning on Wednesday, there were a few notable insider trades.

When insiders sell shares, it indicates their concern in the company’s prospects or that they view the stock as being overpriced. Either way, this signals an opportunity to go short on the stock. 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.

ZoomInfo Technologies

• The Trade: ZoomInfo Technologies Inc. ZI 10% owner Carlyle Holdings I LP sold a total of 272,390 shares at an average price of $58.90. The insider received around $16.04 million from selling those shares.
• What’s Happening: Wells Fargo, last week, maintained ZoomInfo Technologies with an Overweight and lowered the price target from $80 to $70.
• What ZoomInfo Does: ZoomInfo Technologies Inc provides a go-to-market intelligence platform for sales and marketing teams. Its cloud-based go-to-market data and insights platform deliver comprehensive and high-quality intelligence and analytics to provide sales and marketing professionals with accurate information and insights on the organizations and professionals.

Squarespace

• The Trade: Squarespace, Inc. SQSP 10% owner Index Venture Growth Associates I Ltd sold a total of 2,410,534 shares at an average price of $26.15. The insider received around $14.59 million from selling those shares.
• What’s Happening: Squarespace recently issued worse-than-expected 2022 revenue expectations.
• What Squarespace Does: Squarespace Inc is an all-in-one platform for businesses and independent creators to build an online presence, grow their brands and manage their businesses across the internet.

Also check this: Executives Buy Around $39M Of 4 Stocks

Palo Alto Networks

• The Trade: Palo Alto Networks, Inc. PANW Director Mark D McLaughlin sold a total of 9,500 shares at an average price of $598.00. The insider received around $5.68 million as a result of the transaction.
• What’s Happening: Palo Alto Networks, last month, reported better-than-expected Q2 adjusted EPS and sales results and issued Q3 adjusted EPS and FY22 sales guidance above estimates.
• What Palo Alto Networks Does: Palo Alto Networks is a pure-play cybersecurity vendor that sells security appliances, subscriptions, and support into enterprises, government entities, and service providers.

Have a look at our premarket coverage here .