Zoom Video, eBay And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed lower by around 275 points 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.

Zoom Video Communications

• The Trade: Zoom Video Communications, Inc. ZM Chief Operating Officer Aparna Bawa sold a total of 13,268 shares at an average price of $69.36. The insider received around $920,313 from selling those shares.
• What’s Happening: HSBC analyst Stephen Bersey initiated coverage on Zoom Video Comms with a Buy rating and announced a price target of $83.
• 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

Trade Desk

• The Trade: The Trade Desk, Inc. TTD Director Gokul Rajaram sold a total of 2,999 shares at an average price of $79.20. The insider received around $237,521 from selling those shares.
• What’s Happening: William Blair analyst Ralph Schackart initiated coverage on Trade Desk with an Outperform rating.
• What Trade Desk Does: The Trade Desk provides a self-service platform that helps advertisers and ad agencies programmatically find and purchase digital ad inventory (display, video, audio, native, and social) on different devices like computers, smartphones, digital out of home, and connected TVs.

eBay

• The Trade: eBay Inc. EBAY SVP, Chief People Officer Cornelius Boone sold a total of 4,891 shares at an average price of $43.63. The insider received around $213,394 from selling those shares.
• What’s Happening: eBay launched a new consignment service, giving users direct access to expert sellers who will list and sell their luxury items on their behalf.
• What eBay Does: EBay operates one of the largest e-commerce marketplaces in the world, with $74 billion in 2022 gross merchandise volume, or GMV, rendering the firm a top 10 global e-commerce company.

Boston Scientific

• The Trade: Boston Scientific Corporation BSX EVP & Group Pres, Cardiology Michael Joseph Fitzgerald sold a total of 15,867 shares at an average price of $55.00. The insider received around $872,685 from selling those shares.
• What’s Happening: Boston Scientific CEO Mike Mahoney set the theme at the company's 2023 Investor Day event as "next level,' stating that his goal was to make Boston Scientific a "compelling" and "fantastic place to be 10 years from now."
• What Boston Scientific Does: Boston Scientific produces less invasive medical devices that are inserted into the human body through small openings or cuts.

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