On Monday, the Nasdaq Composite gained more than 200 points. Meanwhile, investors focused on specific major insider deals.
When insiders sell stocks , it implies that they are concerned about the company’s future or believe the stock is expensive. In any case, this indicates a potential chance to sell the stock short. Insider sales should not be used alone to make an investment or trading decision. At best, it may strengthen a selling decision.
The Following Are Some Recent Significant Insider Sales.
Palo Alto Networks Inc. (PANW)
Nir Zuk, Director, EVP, and Chief Technology Officer of Palo Alto Networks, Inc., sold 36,000 shares of PANW stock ( NASDAQ:PANW ) at an average price of $168.45. The insider made around $6.06 million on the sale of those shares.
What’s New: Palo Alto Networks posted better-than-expected Q4 earnings in August.
Palo Alto Networks is a pure-play cybersecurity company that provides security equipment, subscriptions, and support to companies, government bodies, and service providers.
Amazon ( NASDAQ:AMZN )
Amazon CEO, Adam Selipsky, of Amazon Web Services sold 1,020 shares of Amazon stock ( NASDAQ:AMZN ) at an average price of $114.77. As a consequence of the trade, the insider got around $117.07 thousand.
What’s New: Kaleyra has announced that it would be a preferred SMS provider for Amazon Pay India.
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