Insiders Selling Zoom Video Communications, Bristol-Myers Squibb And This Footwear Manufacturer

The Nasdaq closed lower on Thursday after the Fed increased rates by 25 basis points on Wednesday. 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.

Zoom Video Communications

• The Trade: Zoom Video Communications, Inc. ZM Chief Operating Officer Aparna Bawa sold a total of 10,500 shares at an average price of $61.42. The insider received around $644.87 thousand from selling those shares.
• What’s Happening: The Government of India granted Pan India unified licenses to Zoom.
• What Zoom Video Communications Does: Zoom Video Communications provides a communications platform that connects people through video, voice, chat, and content sharing.

Have a look at our premarket coverage here

Bristol-Myers Squibb

• The Trade: Bristol-Myers Squibb Company BMY EVP & President, Research Rupert Vessey sold a total of 50,385 shares at an average price of $67.06. The insider received around $3.38 million from selling those shares.
• What’s Happening: The European Commission has approved Bristol Myers Squibb's Breyanzi (Lisocabtagene Maraleucel), a CD19-directed chimeric antigen receptor T cell therapy, for relapsed or refractory large B-cell Lymphoma after one prior therapy.
• What Bristol-Myers Squibb Does: Bristol-Myers Squibb discovers, develops, and markets drugs for various therapeutic areas, such as cardiovascular, cancer, and immune disorders.

Skechers U.S.A.

• The Trade: Skechers U.S.A., Inc. SKX Director Richard Siskind sold a total of 20,000 shares at an average price of $53.68. The insider received around $1.07 million from selling those shares.
• What’s Happening: Skechers reported better-than-expected Q1 adjusted EPS and sales results.
• What Skechers Does: Skechers USA Inc is a lifestyle footwear company under the Skechers GO brand name. Products offered include various styles of women's shoes, men's shoes, girl's shoes, boy's shoes, performance shoes, and work shoes.

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