Amazon.com, United Airlines And 2 Other Stocks Insiders Are Selling

Author: Avi Kapoor | April 23, 2024 08:01am

The Nasdaq 100 closed higher by around 1% on Monday. 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.

Accenture

• The Trade: Accenture plc (NYSE:ACN) General Counsel/Corp Secretary Joel Unruch sold a total of 4,333 shares at an average price of $316.12. The insider received around $1.37 million from selling those shares.
• What's Happening: On April 10, Accenture acquired the integrated customer engagement agency Unlimited for an unknown sum.
• What Accenture Does: Accenture is a leading global IT-services firm that provides consulting, strategy, and technology and operational services.

Have a look at our premarket coverage here

Amazon.com

• The Trade: Amazon.com, Inc. (NASDAQ:AMZN) CEO Amazon Web Services Adam Selipsky sold a total of 1,000 shares at an average price of $180.19. The insider received around $180,190 from selling those shares.
• What's Happening: BofA Securities analyst Justin Post reiterated a Buy rating on Amazon.Com with a price target of $204.
• What Amazon.com Does: Amazon is a leading online retailer and one of the highest-grossing e-commerce aggregators, with $386 billion in net sales and approximately $578 billion in estimated physical/digital online gross merchandise volume in 2021.

United Airlines

• The Trade: United Airlines Holdings, Inc. (NASDAQ:UAL) EVP HR and Labor Relations Kate Gebo sold a total of 30,000 shares at an average price of $50.84. The insider received around $1.53 million from selling those shares.
• What's Happening: United Airlines last week reported better-than-expected first-quarter financial results.
• What United Airlines Does: United Airlines is a major us network carrier with hubs in San Francisco, Chicago, Houston, Denver, Los Angeles, New York/Newark, and Washington, D.C.

Marvell Technology

• The Trade: Marvell Technology, Inc. (NASDAQ:MRVL) EVP & Chief Legal Officer Mark Casper sold a total of 2,500 shares at an average price of $64.75. The insider received around $161,875 from selling those shares.
• What's Happening: On April 16, Evercore ISI Group analyst Mark Lipacis initiated coverage on Marvell Tech with an Outperform rating and announced a price target of $88.
• What Marvell Technology Does: Marvell Technology is a fabless chip designer focused on wired networking, where it has the second-highest market share.

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Posted In: ACN AMZN MRVL UAL