Amazon.com, Nvidia And 2 Other Stocks Insiders Are Selling
Author: Avi Kapoor | July 12, 2024 07:54am
The Nasdaq 100 closed lower by more than 2% 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.
The Trade: Autodesk, Inc. (NASDAQ:ADSK) EVP, Chief Operating Officer Steven M Blum sold a total of 19,693 shares at an average price of $250.00. The insider received around $4.92 million from selling those shares.
What's Happening: On June 18, Oppenheimer analyst Ken Wong maintained Autodesk with an Outperform and maintained a $275 price target.
What Autodesk Does: Founded in 1982, Autodesk is an application software company that serves industries in architecture, engineering, and construction; product design and manufacturing; and media and entertainment.
The Trade: ZoomInfo Technologies Inc. (NASDAQ:ZI) CFO Peter Cameron Hyzer sold a total of 7,500 shares at an average price of $12.37. The insider received around $92,775 from selling those shares.
What's Happening: On June 21, Wells Fargo analyst Michael Turrin maintained ZoomInfo Technologies with an Overweight and lowered the price target from $21 to $19.
What ZoomInfo Technologies Does: ZoomInfo Technologies Inc provides a go-to-market intelligence platform for sales and marketing teams.
The Trade: Amazon.com, Inc. (NASDAQ:AMZN) Executive Chair Jeffrey P Bezos sold a total of 2,262,411 shares at an average price of $200.11. The insider received around $452.7 million from selling those shares.
What's Happening: Amazon.com showcased its generative AI (GenAI) prowess at the AWS NYC Summit on Wednesday, captivating attendees.
What Amazon Does: Amazon is the leading online retailer and marketplace for third party sellers.
The Trade: NVIDIA Corporation (NASDAQ:NVDA) CEO and President Jen Hsun Huang sold a total of 240,000 shares at an average price of $132.77. The insider received around $31.9 million from selling those shares.
What's Happening: On July 9, KeyBanc maintained an Overweight rating on the stock and raised its price target from $130 to $180.
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.
