Bank of America, Accenture And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed lower by more than 700 points during Wednesday's session. 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.

Bank of America

• The Trade: Bank of America Corporation (NYSE:BAC) President and CEO Jen Hsun Huang sold a total of 18,899,518 shares at an average price of $42.46. The insider received around $802.5 million from selling those shares.
• What's Happening: The Board authorized a $25 billion stock repurchase program starting August 1, 2024, replacing the existing program set to expire on that date.
• What Bank of America Does: Bank of America is one of the largest financial institutions in the United States, with more than $3.0 trillion in assets.
• Benzinga Pro's real-time newsfeed alerted to latest BAC news.

Accenture

• The Trade: Accenture plc (NYSE:ACN) Chief Leadership & HR Officer Ellyn Shook sold a total of 5,000 shares at an average price of $329.82. The insider received around $1.65 million from selling those shares.
• What's Happening: On July 22, Accenture agreed to acquire Camelot Management Consultants.
• What Accenture Does: Accenture is a leading global IT-services firm that provides consulting, strategy, and technology and operational services.
• Benzinga Pro's charting tool helped identify the trend in ACN stock.

Hershey

• The Trade: The Hershey Company (NYSE:HSY) SVP, Chief Financial Officer Steven E Voskuil sold a total of 1,500 shares at an average price of $190.83. The insider received around $286,245 from selling those shares.
• What's Happening: On July 23, Deutsche Bank analyst Steve Powers maintained Hershey with a Hold and lowered the price target from $197 to $192.
• What Hershey Does: Hershey is a leading confectionery manufacturer in the us (around a $25 billion market), controlling around 36% of the domestic chocolate space (per Euromonitor).
• Benzinga Pro's signals feature notified of a potential breakout in HSY shares.

Trade Desk

• The Trade: The Trade Desk, Inc. (NASDAQ:TTD) Director Gokul Rajaram sold a total of 1,355 shares at an average price of $98.37. The insider received around $133,291 from selling those shares.
• What's Happening: On July 25, Needham analyst Laura Martin reiterated Trade Desk with a Buy and maintained a $100 price target.
• What Trade Desk Does: The Trade Desk provides a self-service platform that helps advertisers and ad agencies programmatically find and purchase digital ad inventory (display, video, audio, and social) on different devices like computers, smartphones, and connected TVs.
• Benzinga Pro's earnings calendar was used to track TTD upcoming earnings report.

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