HP, Zoom Video And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Lisa Levin
Insiders at HP Inc. (HPQ), FirstCash Holdings, Inc. (FCFS), Zoom Video Communications, Inc. (ZM), and Vertex Pharmaceuticals Incorporated (VRTX) have recently sold significant amounts of shares. This 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.
October 06, 2023 | 12:01 pm
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NEUTRAL IMPACT
FirstCash Holdings' 10% owner Douglas R. Rippel Revocable Trust sold over 83,000 shares. The company recently posted better-than-expected Q2 results.
The insider sale could indicate a lack of confidence in the company, but the strong Q2 results could offset this impact.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
HP Inc.'s 10% owner Warren E Buffett sold over 3 million shares. B of A Securities upgraded HP from Underperform to Buy with a $33 price target.
While the insider sale could indicate a lack of confidence in the company, the upgrade from B of A Securities could balance out the impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Vertex Pharmaceuticals' EVP and CMO Carmen Bozic sold over 5,000 shares. The company presented updated VX-880 results from an ongoing study.
The insider sale could indicate a lack of confidence in the company, but the presentation of updated study results could offset this impact.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Zoom Video's Director Santiago Subotovsky sold over 2,000 shares. The company recently unveiled AI-powered innovations.
The insider sale could indicate a lack of confidence in the company, but the unveiling of AI-powered innovations could offset this impact.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100