Amazon, Cisco And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Lisa Levin
Insiders at Amazon, Cisco, Rivian Automotive, and Zoom Video Communications have recently sold shares, signaling potential concerns about the companies' prospects or stock valuations. These sales come as the companies announce new products, services, and ratings.
June 09, 2023 | 12:27 pm
News sentiment analysis
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NEGATIVE IMPACT
Amazon CEO of Web Services Adam Selipsky sold 1,000 shares at an average price of $124.95. Wells Fargo initiated coverage on Amazon with an Overweight rating and a price target of $159.
The insider sale may indicate concerns about the company's prospects or stock valuation. However, the new Overweight rating from Wells Fargo could partially offset the negative impact.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 80
NEGATIVE IMPACT
Cisco Chair and CEO Charles Robbins sold 49,212 shares at an average price of $49.56. The company unveiled next-gen solutions that empower security and productivity with generative AI.
The insider sale may indicate concerns about the company's prospects or stock valuation. However, the announcement of next-gen AI solutions could partially offset the negative impact.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 80
NEGATIVE IMPACT
Rivian Automotive Chief Accounting Officer Jeff Baker sold 20,000 shares at an average price of $14.53. The company announced that its all-electric service vans will hit the roads in the coming weeks.
The insider sale may indicate concerns about the company's prospects or stock valuation. However, the announcement of all-electric service vans could partially offset the negative impact.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 80
NEGATIVE IMPACT
Zoom Video Communications COO Aparna Bawa sold 7,000 shares at an average price of $69.17. The company launched AI-powered Zoom IQ features.
The insider sale may indicate concerns about the company's prospects or stock valuation. However, the launch of AI-powered Zoom IQ features could partially offset the negative impact.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 80