Costco Wholesale, S&P Global And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Lisa Levin
Insiders at S&P Global, Autodesk, NVIDIA, and Costco Wholesale have recently sold shares, signaling potential concerns about the companies' prospects or stock overvaluation. These sales can be an opportunity to go short on the stocks but should not be the sole indicator for investment decisions.
June 16, 2023 | 12:22 pm
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NEGATIVE IMPACT
Autodesk EVP Rebecca Pearce sold 1,252 shares at $220.00, while the company posted in-line earnings for its first quarter.
The insider sale suggests potential concerns about Autodesk's prospects or stock overvaluation. The company's in-line earnings for Q1 may not be enough to offset the negative sentiment from the insider sale, leading to a short-term negative impact on the stock.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Costco Wholesale EVP and CFO Richard Galanti sold 1,500 shares at $522.03, while the company reported May 2023 net sales of $18.45 billion, up from $18.23 billion YoY.
The insider sale suggests potential concerns about Costco Wholesale's prospects or stock overvaluation. The company's YoY increase in net sales may not be enough to offset the negative sentiment from the insider sale, leading to a short-term negative impact on the stock.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
NVIDIA Director A. Brooke Seawell sold 860 shares at $424.69, while the company secured significant orders from major Chinese internet companies with cloud computing businesses.
The insider sale indicates potential concerns about NVIDIA's prospects or stock overvaluation. However, the company's significant orders from Chinese internet companies suggest a positive outlook. The short-term impact is likely negative due to the insider sale.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
S&P Global EVP Dimitra Manis sold 2,021 shares at $386.27, while B of A Securities initiated coverage with a Buy rating and a price target of $465.
The insider sale indicates potential concerns about the company's prospects or stock overvaluation. However, B of A Securities' Buy rating and price target of $465 suggest a positive outlook. The short-term impact is likely negative due to the insider sale.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100