GameStop, CrowdStrike And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed lower by over 1% on Friday. 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.

Trade Desk

• The Trade: The Trade Desk, Inc. TTD President and CEO Jeffrey Terry Green sold a total of 175,250 shares at an average price of $85.14. The insider received around $14.92 million from selling those shares.
• What’s Happening: The company’s stock fell 6% over the past month.
• 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. It utilizes data to optimize the performance of ad impressions purchased.

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United Natural Foods

• The Trade: United Natural Foods, Inc. UNFI Director Torre Ann Bates sold a total of 16,061 shares at an average price of $14.94. The insider received around $239,951 from selling those shares.
• What’s Happening: UNFI reported fourth-quarter FY23 sales growth of 2% year-on-year to $7.417 billion, missing the analyst consensus of $7.47 billion.
• What United Natural Foods Does: United Natural Foods Inc is a wholesale distributor of natural, organic and specialty foods and nonfood products across North America.

CrowdStrike Holdings

• The Trade: CrowdStrike Holdings, Inc. CRWD Director Roxanne Austin sold a total of 5,000 shares at an average price of $185.25. The insider received around $926,250 from selling those shares.
• What’s Happening: At the end of September, CrowdStrike in partnership with Amazon Web Services (AWS) announced the creation of the Amazon Web Services (AWS) & CrowdStrike Cybersecurity Startup Accelerator for EMEA-based startups.
• What CrowdStrike Holdings Does: CrowdStrike is a cloud-based cybersecurity company specializing in next-generation endpoint and cloud workload protection.

GameStop

• The Trade: GameStop Corp. GME General Counsel and Secretary Haymond Mark Robinson sold a total of 11,966 shares at an average price of $15.48. The insider received around $185,234 from selling those shares.
• What’s Happening: GameStop announced the election of Ryan Cohen as Chief Executive Officer.
• What GameStop Does: GameStop Corp is a U.S. multichannel video game, consumer electronics, and services retailer. The company operates across Europe, Canada, Australia, and the United States.

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