Urban Outfitters, Eli Lilly And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed lower by over 100 points on Wednesday. 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.

Electronic Arts

• The Trade: Electronic Arts Inc. (NASDAQ:EA) Chairman and CEO Andrew Wilson sold a total of 2,500 shares at an average price of $132.24. The insider received around $330,595 from selling those shares.
• What's Happening: On May 7, EA said fourth-quarter total net revenue fell 5% year-over-year to $1.779 billion.
• What Electronic Arts Does: EA is one of the world’s largest third-party video game publishers and has transitioned from a console-based video game publisher to the one of the largest publishers on consoles, PC, and mobile.

Have a look at our premarket coverage here

Zillow Group

• The Trade: Zillow Group, Inc. (NASDAQ:ZG) CFO Jeremy Hofmann sold a total of 8,562 shares at an average price of $39.05. The insider received around $334,346 from selling those shares.
• What's Happening: On May 1, Zillow posted upbeat quarterly results.
• What Zillow Group Does: Zillow Group Inc is an Internet-based real estate company that offers its customers an on-demand experience for selling, buying, renting, or financing with transparency and ease.

Urban Outfitters

• The Trade: Urban Outfitters, Inc. (NASDAQ:URBN) Chief Administrative Officer Azeez Hayne sold a total of 13,967 shares at an average price of $41.78. The insider received around $583,541 from selling those shares.
• What's Happening: On May 21, Urban Outfitters reported better-than-expected financial results for its first quarter.
• What Urban Outfitters Does: Founded in 1970, Philadelphia-based Urban Outfitters is an apparel and home goods retailer that operates more than 700 stores and e-commerce in the United States (87% of fiscal 2024 sales) and other regions.

Eli Lilly and Company

• The Trade: Eli Lilly and Company (NYSE:LLY) 10% owner Lilly Endowment Inc sold a total of 2,052 shares at an average price of $809.00. The insider received around $1.66 million from selling those shares.
• What's Happening: Eli Lilly, last week, announced it has more than doubled its investment in its Lebanon, Indiana, manufacturing site with a new $5.3 billion commitment, increasing its total investment from $3.7 billion to $9 billion.
• What Eli Lilly Does: Eli Lilly is a drug firm with a focus on neuroscience, cardiometabolic, cancer, and immunology.

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