Coinbase Global, Electronic Arts And 2 Other Stocks Executives Are Selling
Author: Avi Kapoor | September 18, 2024 08:57am
The Nasdaq 100 closed slightly higher during Tuesday'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.
The Trade: Wynn Resorts, Limited (NASDAQ:WYNN) Director Patricia Mulroy sold a total of 2,650 shares at an average price of $78.73. The insider received around $208,635 from selling those shares.
What's Happening: On Sept. 10, Wynn Resorts priced its $800 million private offering of Wynn Resorts Finance 6.250% Senior Notes due 2033.
What Wynn Resorts Does: Wynn Resorts operates luxury casinos and resorts. The company was founded in 2002 by Steve Wynn, the former CEO.
The Trade: Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold a total of 3,300 shares at an average price of $24.51. The insider received around $80,875 from selling those shares.
What's Happening: On Aug. 8, Dropbox reported better-than-expected second-quarter financial results.
What Dropbox Does: Dropbox is a leading provider of cloud-storage and content collaboration tools with an emphasis on individuals and SMB.
The Trade: Coinbase Global, Inc. (NASDAQ:COIN) President and COO Emilie Choi sold a total of 1,500 shares at an average price of $162.24. The insider received around $243,360 from selling those shares.
What's Happening: On Sept. 12, Coinbase announced the launch of Coinbase Wrapped BTC (cbBTC), a new ERC20 token backed 1:1 by Bitcoin held in Coinbase’s custody to bridge Bitcoin to Ethereum and base networks.
What Coinbase Global Does: Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States.
Benzinga Pro’s signals feature notified of a potential breakout in COIN shares.
Electronic Arts
The Trade: Electronic Arts Inc. (NASDAQ:EA) EVP, Global Affairs and CLO Jacob J. Schatz sold a total of 1,500 shares at an average price of $146.58. The insider received around $219,870 from selling those shares.
What's Happening: On Sept. 17, Electronic Arts outlined its long-term growth strategy at its Investor Day event.
What Electronic Arts Does: EA is one of the world’s largest third-party video game publishers and has transitioned from a console-based video game publisher to the one of the largest publishers on consoles, PC, and mobile.
