Nvidia, Bank of America And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed lower by over 180 points during Friday's session. 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.

Bank of America

The Trade: Bank of America Corporation BAC CEO Sundar Pichai sold a total of 33,890,927 shares at an average price of $43.56. The insider received around $1.48 billion from selling those shares.
What's Happening: On July 19, Bank of America declared preferred stock dividends for the third quarter.
What Bank of America Does: Bank of America is one of the largest financial institutions in the United States, with more than $3.0 trillion in assets.
Benzinga Pro's real-time newsfeed alerted to latest BAC news.

NVIDIA

The Trade: NVIDIA Corporation NVDA President and CEO Jen Hsun Huang sold a total of 240,000 shares at an average price of $119.50. The insider received around $28.7 million from selling those shares.
What's Happening: Nvidia on Thursday disclosed a stake of 62,500 shares in Serve Robotics at an average price of $4 per share.
What NVIDIA Does: Nvidia is a leading developer of graphics processing units. Traditionally, GPUs were used to enhance the experience on computing platforms, most notably in gaming applications on PCs.
Benzinga Pro's charting tool helped identify the trend in NVDA stock.

Bank of New York Mellon

The Trade: The Bank of New York Mellon Corporation BK Sr. Exec. Vice President Hanneke Smits sold a total of 15,000 shares at an average price of $64.11. The insider received around $961,620 from selling those shares.
What's Happening: On July 12, the finance behemoth reported second-quarter adjusted earnings per share of $1.51, beating the street view of $1.43.
What Bank of New York Mellon Does: BNY Mellon is a global investment company involved in managing and servicing financial assets throughout the investment lifecycle.
Benzinga Pro's signals feature notified of a potential breakout in BK shares.

Zoom Video

The Trade: Zoom Video Communications, Inc. ZM Chief Operating Officer Aparna Bawa sold a total of 10,332 shares at an average price of $56.81. The insider received around $586,964 from selling those shares.
What's Happening: On July 10, Piper Sandler analyst James Fish maintained Zoom Video with a Neutral and lowered the price target from $72 to $68.
What Zoom Video Does: Zoom Video Communications provides a communications platform that connects people through video, voice, chat, and content sharing.
http://www.benzinga.com/pro/register/?utm_source=BZprocontent072224&t=be2bearmibe3na1Insider trades for Zoom were monitored using Benzinga Pro..