Coinbase Global, DoorDash And 2 Other Stocks Insiders Are Selling

Author: Avi Kapoor | May 03, 2024 09:28am

The Nasdaq 100 closed higher by more than 200 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.

DocuSign

• The Trade: DocuSign, Inc. (NASDAQ:DOCU) President and CEO Allan C. Thygesen sold a total of 8,086 shares at an average price of $56.16. The insider received around $454,110 from selling those shares.
• What's Happening: On April 12, UBS analyst Karl Keirstead upgraded DocuSign from Sell to Neutral and raised the price target from $48 to $62.
• What DocuSign Does: DocuSign offers the Agreement Cloud, a broad cloud-based software suite that enables users to automate the agreement process and provide legally binding e-signatures from nearly any device.

Have a look at our premarket coverage here

Snap

• The Trade: Snap Inc. (NYSE:SNAP) General Counsel Michael J. O’Sullivan sold a total of 18,000 shares at an average price of $15.10. The insider received around $271,802 from selling those shares.
• What's Happening: On April 25, Snap reported quarterly earnings of 3 cents per share, which beat the analyst consensus estimate of a loss of 5 cents per share.
• What Snap Does: Snap owns one of the most popular social networking apps, Snapchat, claiming more than 400 million daily active users as of the end of 2023.

Coinbase Global

• The Trade: Coinbase Global, Inc. (NASDAQ:COIN) President and COO Emilie Choi sold a total of 9,500 shares at an average price of $209.40. The insider received around $1.99 million from selling those shares.
• What's Happening: On May 2, Coinbase Global reported upbeat sales for its first quarter. The company reported GAAP EPS of $4.40..
• What Coinbase Global Does: Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States.

DoorDash

• The Trade: DoorDash, Inc. (NASDAQ:DASH) CFO Ravi Inukonda sold a total of 7,000 shares at an average price of $130.95. The insider received around $916,654 from selling those shares.
• What's Happening: On May 1, DoorDash reported mixed first-quarter financial 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.

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Posted In: COIN DASH DOCU SNAP