Robinhood, Pinterest And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Lisa Levin
Insiders at Pinterest (PINS), Dropbox (DBX), Robinhood Markets (HOOD), and TD SYNNEX (SNX) have recently sold significant amounts of shares. While insider sales can sometimes indicate concern about a company's prospects, they can also be part of a preplanned sale. Recent developments for these companies include a stock upgrade for Pinterest by Wells Fargo, the announcement of new AI-powered products by Dropbox, multiple firms raising their price targets for Robinhood, and TD SYNNEX reporting worse-than-expected Q2 financial results.
July 14, 2023 | 12:22 pm
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NEUTRAL IMPACT
Dropbox Chief Legal Officer Bart Volkmer sold 10,000 shares at an average price of $27.55. Dropbox recently announced new AI-powered product experiences.
The insider sale could be seen as a negative signal, but the announcement of new AI-powered products could potentially offset any negative impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Robinhood CFO Jason Warnick sold 40,000 shares at an average price of $12.00. Multiple firms raised their respective price target on the stock.
The insider sale could be seen as a negative signal, but the recent price target raises by multiple firms could potentially offset any negative impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Pinterest SVP, Products Naveen Gavini sold 9,598 shares at an average price of $28.58. Wells Fargo recently upgraded the stock to Overweight from Equal-Weight.
While the insider sale could indicate concern about the company's prospects, the recent upgrade by Wells Fargo could balance out any negative impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
TD SYNNEX 10% owner Apollo Management LP sold 2,300,000 shares at an average price of $94.50. TD SYNNEX reported worse-than-expected Q2 financial results.
The combination of a significant insider sale and worse-than-expected Q2 financial results could have a negative impact on the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 100