Snap And 2 Other Stocks Insiders Are Selling

Meta Platforms, Inc. FB reported better-than-expected earnings for its first quarter, while sales missed estimates. Investors, meanwhile, focused on some 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.

Snap

• The Trade: Snap Inc. SNAP CEO Evan Spiegel sold a total of 250,000 shares at an average price of $29.25. The insider received around $7.31 million from selling those shares.
• What’s Happening: Snap recently reported Q1 financial results and issued Q2 guidance.
• What Snap Does: Snap, which refers to itself as a camera company, has one of the most popular social networking apps, Snapchat, in developed regions such as North America and Europe.

Dropbox

• The Trade: Dropbox, Inc. DBX President Timothy Young sold a total of 12,750 shares at an average price of $22.34. The insider received around $284.79 thousand from selling those shares.
• What’s Happening: Dropbox is expected to report financial results for the first quarter ended March 31, 2022 on Thursday, May 5, 2022.
• What Dropbox Does: Dropbox is a leading provider of cloud-storage and content collaboration tools with an emphasis on individuals and SMB.

Also check this: 3 Stocks Under $2 Insiders Are Aggressively Buying

FactSet Research Systems

• The Trade: FactSet Research Systems Inc. FDS Director Robin A. Abrams sold a total of 1,767 shares at an average price of $418.98. The insider received around $740.34 thousand as a result of the transaction.
• What’s Happening: FactSet Research recently said it sees FY22 adjusted EPS of $12.75-$13.15.
• What FactSet Research Does: FactSet provides financial data and portfolio analytics to the global investment community. The company aggregates data from third-party data suppliers, news sources, exchanges, brokerages, and contributors into its workstations.

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