Electronic Arts, Snowflake And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Lisa Levin
Insiders at four companies, G-III Apparel Group (GIII), Electronic Arts (EA), TD SYNNEX (SNX), and Snowflake (SNOW), have recently sold shares. G-III Apparel Group reported a 9% YoY sales growth in Q2 FY24, beating analyst consensus. Electronic Arts was recently upgraded from Neutral to Buy by B of A Securities. TD SYNNEX announced a secondary public offering of 6.75 million shares and a concurrent share repurchase of $280 million. B of A Securities initiated coverage on Snowflake with a Neutral rating.
October 18, 2023 | 11:59 am
News sentiment analysis
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NEGATIVE IMPACT
Insider at Electronic Arts sold shares even though B of A Securities recently upgraded the stock from Neutral to Buy.
The insider sale at EA could indicate a lack of confidence in the company's future prospects, despite the recent positive analyst rating. This could potentially lead to a negative impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Insider at G-III Apparel Group sold shares despite the company reporting a 9% YoY sales growth in Q2 FY24, beating analyst consensus.
The insider sale at GIII could indicate a lack of confidence in the company's future prospects, despite the recent positive earnings report. This could potentially lead to a negative impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Insider at Snowflake sold shares after B of A Securities initiated coverage on the company with a Neutral rating.
The insider sale at SNOW could indicate a lack of confidence in the company's future prospects, despite the recent analyst coverage. This could potentially lead to a negative impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Insider at TD SYNNEX sold a significant number of shares following the announcement of a secondary public offering of 6.75 million shares and a concurrent share repurchase of $280 million.
The insider sale at SNX could indicate a lack of confidence in the company's future prospects, despite the recent equity actions. This could potentially lead to a negative impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100