Alphabet, Pinterest And 2 Other Stocks Insiders Are Selling

Author: Avi Kapoor | January 02, 2024 08:31am

The Nasdaq 100 closed lower by around 0.4% on Friday. 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.

Alphabet

• The Trade: Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) President, Global Affairs, CLO John Kent Walker sold a total of 28,281 shares at an average price of $141.40. The insider received around $4 million from selling those shares.
• What’s Happening: Alphabet’s Google has achieved a preliminary settlement in a legal action that accused the company of clandestinely tracking the online activity of millions of users who believed they were surfing the internet privately.
• What Alphabet Does: Alphabet is a holding company. Internet media giant Google is a wholly owned subsidiary.

Have a look at our premarket coverage here

Pinterest

• The Trade: Pinterest, Inc. (NYSE:PINS) Chief People Officer Christine Deputy sold a total of 22,459 shares at an average price of $37.27. The insider received around $837,108 from selling those shares.
• What’s Happening: Wedbush analyst Scott Devitt, last week, maintained Pinterest with a Neutral and raised the price target from $32 to $35.
• What Pinterest Does: Pinterest is an online product and idea discovery platform that helps users gather ideas on everything from recipes to cook to destinations to travel to.

Coinbase Global

• The Trade: Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold a total of 4,635 shares at an average price of $183.44. The insider received around $850,245 from selling those shares.
• What’s Happening: Coinbase International Exchange recently announced the introduction of non-US spot markets, marking a new phase in its expansion.
• What Coinbase Global Does: Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States.

Yelp

• The Trade: Yelp Inc. (NYSE:YELP) Chief Operating Officer Joseph Nachman sold a total of 6,000 shares at an average price of $48.07. The insider received around $288,437 from selling those shares.
• What’s Happening: Yelp, during November, posted better-than-expected quarterly sales.
• What Yelp Does: Yelp Inc operates in the online content market based in the United States. It provides a web-based platform and mobile application to bridge the gap between businesses and consumers.

 

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Posted In: COIN GOOG GOOGL PINS YELP