Alphabet, Visa And 2 Other Stocks Insiders Are Selling

Author: Avi Kapoor | February 09, 2024 08:52am

The Nasdaq 100 closed higher by around 0.2% 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.

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) CEO Sundar Pichai sold a total of 22,500 shares at an average price of $146.29. The insider received around $3,291,549 from selling those shares.
• What’s Happening: Alphabet’s Google has consolidated its AI efforts under a single brand name – "Gemini." As a result, its chatbot, Bard, has now been renamed to Google Gemini.
• What Alphabet Does: Alphabet is a holding company. Internet media giant Google is a wholly owned subsidiary. Google generates 99% of Alphabet revenue, of which more than 85% is from online ads. Google's other revenue is from sales of apps and content on Google Play and YouTube, as well as cloud service fees and other licensing revenue.

Have a look at our premarket coverage here

Levi Strauss

• The Trade: Levi Strauss & Co. (NYSE:LEVI) EVP and Chief HR Officer Tracy Layney sold a total of 15,894 at an average price of $17.02. The insider received around $270,516 from selling those shares.
• What’s Happening: Levi Strauss recently reported upbeat earnings for its fourth quarter.
• What Levi Strauss Does: Levi Strauss & Co is involved in designing, marketing, and selling products that include jeans, casual and dresses pants, tops, shorts, skirts, jackets, footwear, and related accessories directly or through third parties and licensees for men, women, and children under Levi's, Dockers, Signature by Levi Strauss & Co. and Denizen brands.

Centene

• The Trade: Centene Corporation (NYSE:CNC) President Kenneth J Fasola sold a total of 12,000 shares at an average price of $75.07. The insider received around $900,818 from selling those shares.
• What’s Happening: Centene reported better-than-expected fourth-quarter financial results and issued guidance.
• What Centene Does: Centene is a managed-care organization focused on government-sponsored healthcare plans, including Medicaid, Medicare, and the individual exchanges.

Visa

• The Trade: Visa Inc. (NYSE:V) GBL CORP CONTROLLER, CAO Peter M Andreski sold a total of 2,615 shares at an average price of $278.88. The insider received around $729,282 from selling those shares.
• What’s Happening: Visa reported quarterly earnings of $2.41 per share which beat the analyst consensus estimate of $2.34 by 2.99%.
• What Visa Does: Visa is the largest payment processor in the world. In fiscal 2022, it processed over $14 trillion in total volume. Visa operates in over 200 countries and processes transactions in over 160 currencies.

 

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