Pinterest, Costco And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Lisa Levin
Insiders at Pinterest, Costco, Airbnb, and Yelp have recently sold significant amounts of shares. Pinterest's former CFO sold 60,705 shares, Costco's director sold 1,565 shares, Airbnb's director sold 516,667 shares, and Yelp's COO sold 6,000 shares. These sales could indicate concerns about the companies' prospects or that the insiders view the stocks as overpriced. However, insider sales should not be the sole indicator for investment decisions.
June 30, 2023 | 1:33 pm
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NEUTRAL IMPACT
Airbnb's director sold 516,667 shares. New York City reportedly agreed to not enforce its new law targeting Airbnb until September.
The sale of shares by the director could indicate a lack of confidence in the company's prospects. However, the delay in enforcement of NYC's new law could counterbalance this and maintain the stock's price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Costco's director sold 1,565 shares. Telsey Advisory Group reiterated Costco Wholesale with an Outperform and maintained a $540 price target.
The sale of shares by the director could indicate a lack of confidence in the company's prospects. However, the reiteration of an Outperform rating by Telsey Advisory Group could counterbalance this and maintain the stock's price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Pinterest's former CFO sold 60,705 shares. Wells Fargo upgraded the stock to Overweight from Equal-Weight.
The sale of shares by the former CFO could indicate a lack of confidence in the company's prospects. However, the upgrade by Wells Fargo could counterbalance this and maintain the stock's price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Yelp's COO sold 6,000 shares. Activist investor TCS Capital Management has built a stake in Yelp and urged the site to explore strategic alternatives, including a sale.
The sale of shares by the COO could indicate a lack of confidence in the company's prospects. However, the interest from TCS Capital Management could counterbalance this and maintain the stock's price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100