The Dow Jones closed higher on Friday after the country’s economy added 528,000 jobs in July. 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.
Apple
- The Trade: Apple Inc. AAPL SVP, GC and Secretary Katherine L Adams sold a total of 25,000 shares at an average price of $164.77. The insider received around $4.12 million from selling those shares.
- What’s Happening: Apple is likely to delay the release of the next iteration of the iPadOS – the operating system that powers the iPad, by nearly a month to October, Bloomberg columnist Mark Gurman said last week.
- What Apple Does: Apple designs a wide variety of consumer electronic devices, including smartphones (iPhone), tablets (iPad), PCs (Mac), smartwatches (Apple Watch), AirPods, and TV boxes (Apple TV), among others.
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- The Trade: Twitter, Inc. TWTR General Manager of Consumer Kayvon Beykpour sold a total of 14,878 shares at an average price of $41.09. The insider received around $611.34 thousand as a result of the transaction.
- What’s Happening: Susquehanna downgraded Twitter from Positive to Neutral and announced a $45 price target..
- What Twitter Does: Twitter is an open distribution platform for and a conversational platform around short-form text (a maximum of 280 characters), image, and video content.
Have a look at our premarket coverage here .
PayPal Holdings
- The Trade: PayPal Holdings, Inc. PYPL EVP, Global Sales Peggy Alford sold a total of 21,791 shares at an average price of $97.82. The insider received around $2.13 million from selling those shares.
- What’s Happening: PayPal recently reported better-than-expected Q2 results and raised FY22 EPS guidance.
- What PayPal Does: PayPal was spun off from eBay in 2015 and provides electronic payment solutions to merchants and consumers, with a focus on online transactions.
NIKE
- The Trade: NIKE, Inc. NKE Chief Operating Officer Andrew Campion sold a total of 5,922 shares at an average price of $113.42. The insider received around $671.67 thousand from selling those shares.
- What’s Happening: Nike announced on July 13 that it is making a strategic shift in how it manufactures NCAA clothing in a new deal with Fanatics.
- What NIKE Does: Nike is the largest athletic footwear and apparel brand in the world.
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