General Motors, Bank of America And 2 Other Stocks Insiders Are Selling

The Nasdaq dropped by more than 100 points on Monday. 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.

Uber Technologies

• The Trade: Uber Technologies, Inc. UBER Tony West sold a total of 4,167 shares at an average price of $32.54. The insider received around $135.59 thousand from selling those shares.
• What’s Happening: Uber is expected to report quarterly earnings on Feb. 8, 2023.
• What Uber Technologies Does: Uber Technologies is a technology provider that matches riders with drivers, hungry people with restaurants and food delivery service providers, and shippers with carriers.

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Stryker

• The Trade: Stryker Corporation SYK VP, Chief Financial Officer Glenn S Boehnlein sold a total of 24,425 shares at an average price of $278.54. The insider received around $6.8 million from selling those shares.
• What’s Happening: Stryker reported better-than-expected Q4 adjusted EPS and sales results and issued FY23 adjusted EPS guidance.
• What Stryker Does: Stryker designs, manufactures, and markets an array of medical equipment, instruments, consumable supplies, and implantable devices.

General Motors

• The Trade: General Motors Company GM Executive Vice President Stephen Carlisle sold a total of 18,000 shares at an average price of $41.97. The insider received around $755.46 thousand from selling those shares.
• What’s Happening: GM recently reported better-than-expected Q4 results and issued strong FY23 guidance.
• What General Motors Does: General Motors Co. emerged from the bankruptcy of General Motors Corp. (old GM) in July 2009.

Bank of America

• The Trade: Bank of America Corporation BAC Pres, Gl Corp & Invest Banking Matthew M Koder sold a total of 214,745 shares at an average price of $35.91. The insider received around $7.71 million from selling those shares.
• What’s Happening: The company recently posted upbeat quarterly earnings
• What Bank of America Does: Bank of America is one of the largest financial institutions in the United States, with more than $2.5 trillion in assets.