JPMorgan, Broadcom And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Lisa Levin
Insiders at Box, JPMorgan Chase, Broadcom, and Coca-Cola have recently sold shares, signaling potential concerns about the companies' prospects or stock valuations. Box posted better-than-expected quarterly results, JPMorgan is reconciling a lawsuit, Broadcom is set to receive EU approval for its $61 billion acquisition of VMware, and HSBC maintained a Buy rating on Coca-Cola but lowered the price target.
June 13, 2023 | 12:33 pm
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NEGATIVE IMPACT
Broadcom CFO & Chief Accounting Officer Kirsten M Spears sold 6,000 shares at $797.82 each as the company is set to receive EU approval for its $61 billion acquisition of VMware.
The sale of shares by the CFO and Chief Accounting Officer during a major acquisition may indicate concerns about the company's prospects or that the stock is overpriced. This could lead to a short-term negative impact on the stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
Box CFO Dylan Smith sold 13,000 shares at $28.96 each after the company posted better-than-expected quarterly results.
The sale of shares by the CFO after better-than-expected results may indicate concerns about the company's prospects or that the stock is overpriced. This could lead to a short-term negative impact on the stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
JPMorgan Co-CEO CCB Jennifer Piepszak sold 1,871 shares at $140.70 each as the bank reconciles a lawsuit accusing it of profiting from Jeffrey Epstein's sex trafficking operations.
The sale of shares by the Co-CEO during a lawsuit reconciliation may indicate concerns about the company's prospects or that the stock is overpriced. This could lead to a short-term negative impact on the stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
Coca-Cola's Manuel Arroyo sold 16,000 shares at $63.50 each as HSBC maintained a Buy rating but lowered the price target from $77 to $74.
The sale of shares by an insider after a lowered price target may indicate concerns about the company's prospects or that the stock is overpriced. This could lead to a short-term negative impact on the stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100