Roblox, Morgan Stanley And 2 Other Stocks Insiders Are Selling
Author: Avi Kapoor | July 29, 2024 08:23am
The Nasdaq 100 closed higher by over 1% 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.
Roblox
- The Trade: Roblox Corporation (NYSE:RBLX) Director Gregory Baszucki sold a total of 13,000 shares at an average price of $40.45. The insider received around $525,847 from selling those shares.
- What's Happening: Roblox will report the company’s second quarter financial results before the opening bell on Thursday, Aug. 1.
- What Roblox Does: Roblox operates an online video game platform that lets young gamers create, develop, and monetize games (or “experiences”) for other players.
Have a look at our premarket coverage here
Morgan Stanley
- The Trade: Morgan Stanley (NYSE:MS) Chief Human Resources Officer Mandell Crawley sold a total of 3,500 shares at an average price of $105.25. The insider received around $368,375 from selling those shares.
- What's Happening: On July 24, Morgan Stanley Expansion Capital acquired a stake in global payments fintech Sokin.
- What Morgan Stanley Does: Morgan Stanley is a global investment bank whose history, through its legacy firms, can be traced back to 1924.
Webster Financial
- The Trade: Webster Financial Corporation (NYSE:WBS) Chief Credit Officer Jason A. Soto sold a total of 1,650 shares at an average price of $46.32. The insider received around $76,428 from selling those shares.
- What's Happening: On July 23, Webster Financial reported worse-than-expected second-quarter financial results.
- What Webster Financial Does: Webster Financial Corp is a full-service provider of financial services, offering commercial and consumer banking, mortgages, and investment advisory along with trust and wealth management services in Connecticut, New York, Rhode Island, Massachusetts, and Pennsylvania.
Intercontinental Exchange
- The Trade: Intercontinental Exchange, Inc. (NYSE:ICE) Chief Accounting Officer James W Namkung sold a total of 1,043 shares at an average price of $150.00. The insider received around $156,450 from selling those shares.
- What's Happening: On July 10, Barclays analyst Benjamin Budish maintained Intercontinental Exchange with an Overweight and raised the price target from $150 to $159.
- What Intercontinental Exchange Does: Intercontinental Exchange is a vertically integrated operator of financial exchanges and provides ancillary data products.
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Posted In: ICE MS RBLX WBS
