Nvidia, Coinbase And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Lisa Levin
Insiders at Nvidia, Coinbase, Southern Company, and Cognizant Technology Solutions have recently sold shares, signaling potential concerns about the companies' prospects or stock valuations. These sales could indicate opportunities to go short on the stocks.
June 07, 2023 | 1:01 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Coinbase Global's Chief Accounting Officer sold 1,704 shares at $65.00, amid an SEC lawsuit against the company.
The insider sale, combined with the SEC lawsuit, could negatively impact Coinbase's stock price in the short term as it signals potential concerns about the company's prospects.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Cognizant Technology Solutions' EVP & Pres sold 7,000 shares at $63.72, even after the company reported better-than-expected Q1 EPS and sales results.
The insider sale could indicate concerns about Cognizant's stock valuation or future prospects, potentially leading to a short-term decline in the stock price, despite the company's positive Q1 results.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
NVIDIA's Director sold 70,205 shares at $405.00, despite the company recently joining the $1-trillion-market-capitalization club.
The insider sale could signal concerns about NVIDIA's stock valuation, potentially leading to a short-term decline in the stock price, despite the company's recent market cap milestone.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
Southern Company's Chairman, President & CEO sold 47,326 shares at $69.78, following Morgan Stanley's Underweight rating and lowered price target.
The insider sale, along with Morgan Stanley's negative rating and lowered price target, could lead to a short-term decline in Southern Company's stock price as it indicates concerns about the company's prospects.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100