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

The Nasdaq Composite dipped 2.30% at 17,194.14 during Thursday’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 10% owner Warren E Buffett sold a total of 19,216,833 shares at an average price of $40.52. The insider received around $778.7 million from selling those shares.
• What's Happening: On July 30, Morgan Stanley analyst Betsy Graseck maintained Bank of America with an Overweight and raised the price target from $46 to $49.
• What Bank of America Does: Franklin Electric Co Inc designs, manufactures, and distributes water and fuel pumping systems, composed of submersible motors, pumps, electronic controls, water treatment systems, and related parts and equipment

Royal Caribbean Cruises

• The Trade: Royal Caribbean Cruises Ltd. RCL Director Richard D Fain sold a total of 19,338 shares at an average price of $156.25. The insider received around $3.02 million from selling those shares.
• What's Happening: On July 29, Royal Caribbean Group announced the upsizing and pricing of $2.0 billion offering of senior unsecured notes to refinance certain series of its senior notes due 2029.
• What Royal Caribbean Cruises Does: Royal Caribbean is the world’s second-largest cruise company, operating 68 ships across five global and partner brands in the cruise vacation industry.

DoorDash

• The Trade: DoorDash, Inc. DASH CFO Ravi Inukonda sold a total of 7,000 shares at an average price of $106.64. The insider received around $746,460 from selling those shares.
• What's Happening: On Aug. 1, DoorDash reported better-than-expected second-quarter revenue results.
• What DoorDash Does: Founded in 2013 and headquartered in San Francisco, DoorDash is an online food order demand aggregator. Consumers can use its app to order food on-demand for pickup or delivery from merchants mainly in the US.

Dropbox

• The Trade: Dropbox, Inc. DBX CFO Timothy Regan sold a total of 3,000 shares at an average price of $24.38. The insider received around $73,135 from selling those shares.
• What's Happening: Dropbox will report financial results for the second quarter after market close on Thursday, Aug. 8.
• What Dropbox Does: Dropbox is a leading provider of cloud-storage and content collaboration tools with an emphasis on individuals and SMB.

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