QUALCOMM, McKesson And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Lisa Levin
Insiders at Blackstone Inc. (BX), MongoDB, Inc. (MDB), McKesson Corporation (MCK), and QUALCOMM Incorporated (QCOM) have recently sold shares. While insider sales can indicate concern about a company's prospects or overpricing, they should not be the sole indicator for investment decisions. Blackstone recently sold Simply Self Storage to Public Storage for $2.2 billion. MongoDB reported better-than-expected Q2 results and issued FY24 guidance above estimates. McKesson posted upbeat quarterly results. Wells Fargo maintained Qualcomm with an Underweight and raised the price target from $95 to $100.
September 12, 2023 | 4:44 pm
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NEGATIVE IMPACT
Blackstone Director William Parrett sold 3,874 shares at an average price of $112.47. The company recently sold Simply Self Storage for $2.2 billion.
The sale of shares by an insider could indicate a lack of confidence in the company's future prospects, potentially leading to a decrease in the stock price. The sale of Simply Self Storage could also impact the company's assets and revenues.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
McKesson CEO Brian Tyler sold 25,246 shares at an average price of $422.58. The company posted upbeat quarterly results.
The sale of shares by an insider could indicate a lack of confidence in the company's future prospects, potentially leading to a decrease in the stock price. However, the positive quarterly results could mitigate this impact.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
MongoDB Chief Revenue Officer Cedric Pech sold 16,143 shares at an average price of $378.86. The company reported better-than-expected Q2 results and issued FY24 guidance above estimates.
The sale of shares by an insider could indicate a lack of confidence in the company's future prospects, potentially leading to a decrease in the stock price. However, the positive Q2 results and FY24 guidance could mitigate this impact.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
QUALCOMM Chief Commercial Officer James J Cathey sold 1,000 shares at an average price of $111.27. Wells Fargo maintained Qualcomm with an Underweight and raised the price target from $95 to $100.
The sale of shares by an insider could indicate a lack of confidence in the company's future prospects, potentially leading to a decrease in the stock price. The Underweight rating from Wells Fargo could also negatively impact the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100