Salesforce, Autodesk And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed slightly higher on Thursday. 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.

Autodesk

• The Trade: Autodesk, Inc. ADSK Director Mary T McDowell sold a total of 4,656 shares at an average price of $222.04. The insider received around $1.03 million from selling those shares.
• What’s Happening: Autodesk reported better-than-expected second-quarter financial results and issued FY24 EPS guidance above estimates.
• What Autodesk Does: Founded in 1982, Autodesk is an application software company that serves industries in architecture, engineering, and construction; product design and manufacturing; and media and entertainment. Autodesk software enables design, modeling, and rendering needs of these industries.

Have a look at our premarket coverage here

Expedia Group

• The Trade: Expedia Group, Inc. EXPE Chief Legal Officer & Sec'y Robert Dzielak sold a total of 6,000 shares at an average price of $110.00. The insider received around $660,000 from selling those shares.
• What’s Happening: Expedia Group posted upbeat quarterly earnings.
• What Expedia Group Does: Expedia is the world's second largest online travel agency by bookings, offering services for lodging (76% of total 2022 sales), air tickets (3%), rental cars, cruises, in-destination, and other (14%), and advertising revenue (7%).

Salesforce

• The Trade: Salesforce, Inc. CRM Chair and CEO Marc Benioff sold a total of 15,000 shares at an average price of $213.73. The insider received around $3.21 million from selling those shares.
• What’s Happening: Salesforce reported better-than-expected second-quarter financial results and issued FY24 guidance above estimates.
• What Salesforce Does: Salesforce Inc provides enterprise cloud computing solutions. The company offers customer relationship management technology that brings companies and customers together.

Coinbase Global

• The Trade: Coinbase Global, Inc. COIN Chief Legal Officer Paul Grewal sold a total of 2,402 shares at an average price of $77.03. The insider received around $185,035 from selling those shares.
• What’s Happening: Coinbase acquired an equity stake Monday in Circle, the co-founder of the USD Coin.
• What Coinbase Global Does: Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States. The company intends to be the safe and regulation-compliant point of entry for retail investors and institutions into the cryptocurrency economy.

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