Alphabet, Morgan Stanley And 2 Other Stocks Insiders Are Selling

The Nasdaq closed sharply higher on Friday following better-than-expected results from Apple Inc AAPL. 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.

Morgan Stanley

• The Trade: Morgan Stanley MS Director Thomas Glocer sold a total of 4,535 shares at an average price of $87.11. The insider received around $395.02 thousand from selling those shares.
• What’s Happening: The company reported Q1 sales of $14.5 billion, down from $14.8 billion a year ago, but exceeding the consensus estimate of $13.9 billion.
• What Morgan Stanley Does: Morgan Stanley is a global investment bank whose history, through its legacy firms, can be traced back to 1924.

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Piper Sandler Companies

• The Trade: Piper Sandler Companies PIPR CEO and Chairman Chad R Abraham sold a total of 21,970 shares at an average price of $126.24. The insider received around $2.77 million from selling those shares.
• What’s Happening: Piper Sandler posted downbeat Q1 sales.
• What Piper Sandler Companies Does: Piper Sandler Cos is an investment banking company. Investment banking services include financial advisory services, management of and participation in underwriting, and public finance activities.

Robinhood Markets

• The Trade: Robinhood Markets, Inc. HOOD Chief Legal Officer Daniel M. Gallagher, Jr. sold a total of 12,500 shares at an average price of $8.42. The insider received around $105.22 thousand from selling those shares.
• What’s Happening: Robinhood Markets is expected to release its first quarter 2023 financial results on May 10, 2023.
• What Robinhood Does: Robinhood Markets Inc is creating a modern financial services platform. It designs its own products and services and delivers them through a single, app-based cloud platform supported by proprietary technology.

Alphabet

• The Trade: Alphabet Inc. GOOG Director K. Ram Shriram sold a total of 75,000 shares at an average price of $105.04. The insider received around $7.88 million from selling those shares.
• What’s Happening: A federal judge in the Southern District of New York recently unsealed Alphabet Google's lawsuit against the malware distributors of CryptBot, which it estimate infected ~670,000 computers this past year and targeted users of Google Chrome to steal their data.
• What Alphabet Does: Alphabet is a holding company. Internet media giant Google is a wholly owned subsidiary.

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