Booz Allen Hamilton, Uber And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed slightly lower on Wednesday. Investors, meanwhile, focused on some notable insider trades.

When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company’s prospects or that they view the stock as being overpriced. 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 CEO Dara Khosrowshahi sold a total of 100,000 shares at an average price of $47.51. The insider received around $4.75 million from selling those shares.
• What’s Happening: Roth MKM raised its price target on the stock from $46 to $59.
• 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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Abercrombie & Fitch

• The Trade: Abercrombie & Fitch Co. ANF CEO Fran Horowitz sold a total of 48,760 shares at an average price of $36.90. The insider received around $1.8 million from selling those shares.
• What’s Happening: GXO recently expanded its partnership with Abercombie & Fitch to the U.K..
• What Abercrombie & Fitch Does: Abercrombie & Fitch Co is a specialty retailer that sells casual clothing, personal-care products, and accessories for men, women, and children.

Pinterest

• The Trade: Pinterest, Inc. PINS SVP, Products Naveen Gavini sold a total of 52,189 shares at an average price of $30.55. The insider received around $1.59 million from selling those shares. The company’s Directors also sold the company’s shares.
• What’s Happening: Evercore ISI Group recently upgraded Pinterest from In-Line to Outperform and announced a $41 price target.
• What Pinterest Does: Pinterest is an online product and idea discovery platform that helps users gather ideas on everything from recipes to cook to destinations to travel to.

Booz Allen Hamilton

• The Trade: Booz Allen Hamilton Holding Corporation BAH President and CEO Horacio Rozanski sold a total of 20,000 shares at an average price of $115.00. The insider received around $2.3 million from selling those shares.
• What’s Happening: Booz Allen Hamilton recently disclosed securing a position on the Internal Revenue Service (IRS) Enterprise Development, Operations Services (EDOS) contract, a Blanket Purchase Agreement with a ceiling value of $2.6 billion.
• What Booz Allen Hamilton Does: Booz Allen Hamilton Holding Corp is a provider of management consulting services to the U.S. government. Other services offered include technology, such as cloud computing and cybersecurity consulting, and engineering consulting.

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