Insiders Selling Zoom Video, W.W. Grainger And 1 Other Technology Stock

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US crude oil futures traded higher by around 2.5% on Friday. Investors, meanwhile, focused on some notable insider trades. When insiders sell shares, it indicates their concern in the company’s prospects or that they view the stock as being overpriced. Either way, this signals an opportunity to go short on […]

US crude oil futures traded higher by around 2.5% on Friday. Investors, meanwhile, focused on some notable insider trades.

When insiders sell shares, it indicates their concern in the company’s prospects or that they view the stock as being overpriced. Either way, this signals an opportunity to go short on the stock. 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.

Zoom Video Communications

  • The Trade: Zoom Video Communications, Inc. ZM Chief Operating Officer Aparna Bawa sold a total of 2,404 shares at an average price of $101.47. The insider received around $243.94 thousand from selling those shares.
  • What’s Happening: Almost 10,000 users faced trouble accessing Zoom Video Communications on July 28, as per Downdetector.
  • What Zoom Video Does: Zoom Video Communications provides a communications platform that connects people through video, voice, chat, and content sharing.

Also check this: Several Analysts Cut Price Targets On Microsoft Following Q2 Earnings, But This Analyst Raises PT

Adobe

  • The Trade: Adobe Inc. ADBE EVP, CPO, Creative Cloud Scott Belsky sold a total of 2,711 shares at an average price of $393.58. The insider received around $1.07 million as a result of the transaction.
  • What’s Happening: Adobe, last month, issued Q3 revenue guidance below analyst estimates.
  • What Adobe Does: Adobe provides content creation, document management, and digital marketing and advertising software and services to creative professionals and marketers for creating, managing, delivering, measuring, optimizing and engaging with compelling content multiple operating systems, devices and media.

Have a look at our premarket coverage here .

W.W. Grainger

  • The Trade: W.W. Grainger, Inc. GWW Sr. VP Paige Robbins sold a total of 2,330 shares at an average price of $500.03. The insider received around $1.17 million from selling those shares.
  • What’s Happening: W.W. Grainger reported better-than-expected Q2 EPS and sales results and raised FY22 sales guidance above estimates.
  • What W.W. Grainger Does: W.W. Grainger distributes 1.5 million maintenance, repair, and operating products that are sourced from over 4,500 suppliers.

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