Insiders Selling Nvidia, Electronic Arts And This Footwear Giant
Portfolio Pulse from Lisa Levin
Insiders have sold shares in Nvidia, Electronic Arts, and Crocs, potentially indicating concerns about the companies' prospects or overpriced stocks. This follows recent financial reports and price target adjustments for the respective companies.
June 01, 2023 | 12:14 pm
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NEGATIVE IMPACT
Crocs President Michelle Poole sold 18,957 shares at an average price of $109.34, receiving around $2.07 million. CROX reported Q1 revenue growth of 33.9% YoY to $884.2 million, beating the consensus of $856.0 million.
The insider selling of Crocs shares indicates potential concerns about the company's prospects or overpriced stock. Despite reporting strong Q1 revenue growth, the insider selling could negatively impact the stock price in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Electronic Arts CEO and Board Chair Andrew Wilson sold 5,000 shares at an average price of $126.79, receiving around $633.95 thousand. EA reported Q4 revenue of $1.874 billion and net bookings increased 11% YoY to $1.946 billion.
The insider selling of Electronic Arts shares indicates potential concerns about the company's prospects or overpriced stock. Despite reporting strong Q4 revenue and net bookings growth, the insider selling could negatively impact the stock price in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Nvidia director Persis Drell sold 7,800 shares at an average price of $386.03, receiving around $3.01 million. B of A Securities maintained a Buy rating and raised the price target from $450 to $500.
The insider selling of Nvidia shares indicates potential concerns about the company's prospects or overpriced stock. Despite B of A Securities maintaining a Buy rating and raising the price target, the insider selling could negatively impact the stock price in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100