HP, QUALCOMM And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Lisa Levin
Insiders at four major companies, namely QUALCOMM Incorporated (NASDAQ:QCOM), HP Inc. (NYSE:HPQ), G-III Apparel Group, Ltd. (NASDAQ:GIII), and Intuit Inc. (NASDAQ:INTU), have recently sold significant amounts of shares. The reasons for these sales are not explicitly stated, but they could be due to preplanned sales or concerns about the companies' prospects. It's important to note that insider sales should not be the sole indicator for making investment decisions.
September 14, 2023 | 11:52 am
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NEGATIVE IMPACT
G-III Apparel Group's Director Alan Feller sold a total of 10,000 shares at an average price of $24.04, receiving around $240,400. This comes as Telsey Advisory Group recently reiterated the Market Perform rating on G-III Apparel Group with the same price target of $22.
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.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 70
NEGATIVE IMPACT
HP's 10% owner Warren E Buffett sold a total of 5,502,172 shares at an average price of $28.81, receiving around $158.49 million. This follows HP's filing of amendment no. 1 on annual report on form 10-k for the fiscal year ended Oct. 31, 2022.
The sale of a large number of shares by a major shareholder could indicate a lack of confidence in the company's future prospects, potentially leading to a decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 90
NEGATIVE IMPACT
Intuit's EVP, SBSEG Marianna Tessel sold a total of 8,702 shares at an average price of $552.63, receiving around $4.81 million. This follows Intuit's pricing of senior notes offering of $4 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.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 75
NEGATIVE IMPACT
QUALCOMM's CTO sold 27,962 shares at an average price of $113.23, receiving around $3.17 million. This comes as Manchester United confirmed it will put Qualcomm’s Snapdragon brand on the front of the club's jerseys.
The sale of a significant number 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.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80