Coinbase Global, Moderna And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Lisa Levin
Insiders at Moderna, Vertex Pharmaceuticals, Coinbase Global, and Snowflake have recently sold shares. Moderna's President sold 15,000 shares at an average price of $120.60, while Vertex's CEO and President sold 7,828 shares at an average price of $355.00. Coinbase's Director sold 4,580 shares at an average price of $106.65, and Snowflake's SVP of Product Management sold 1,500 shares at an average price of $184.94.
July 19, 2023 | 12:26 pm
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POSITIVE IMPACT
Snowflake's SVP of Product Management sold 1,500 shares at an average price of $184.94. Scotiabank recently upgraded the stock from Sector Perform to Outperform and announced a $213 price target.
Despite the insider selling, Scotiabank's upgrade and raised price target could potentially have a positive impact on Snowflake's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Coinbase's Director sold 4,580 shares at an average price of $106.65. Coinbase CEO Brian Armstrong is scheduled to have a private meeting with House Democrats to discuss digital-asset legislation.
The insider selling could potentially have a negative impact on Coinbase's stock price. However, the upcoming meeting with House Democrats could also influence the stock's movement.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Vertex's CEO and President sold 7,828 shares at an average price of $355.00. Morgan Stanley reiterated Vertex with an Equal-Weight and raised the price target from $305 to $340.
While there has been insider selling, Morgan Stanley's reiteration and raised price target could balance out any potential negative impact on Vertex's stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Moderna's President sold 15,000 shares at an average price of $120.60. HSBC initiated coverage on Moderna with a Reduce rating and a price target of $97.
The insider selling, combined with HSBC's Reduce rating, could potentially put downward pressure on Moderna's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100