Gap And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Lisa Levin
On a day when the Nasdaq 100 saw a decline, investors took note of insider sales at Semrush Holdings (SEMR), Gap Inc. (GPS), and Laureate Education (LAUR). Dmitry Melnikov of Semrush sold shares worth approximately $772,589, while Gap's EVP Sarah Gilligan sold shares totaling around $190,204. Wengen Investments Ltd, a 10% owner of Laureate Education, sold shares for about $334,260. All three companies had reported better-than-expected earnings for the third quarter.
November 22, 2023 | 12:42 pm
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NEUTRAL IMPACT
Gap's EVP Sarah Gilligan sold 11,741 shares at $16.20 each, despite the company reporting better-than-expected Q3 financial results.
The insider sale at Gap comes after a positive earnings report, which may mitigate any negative perception. The sale could be interpreted as routine rather than a reflection of the company's future prospects.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Laureate Education saw a sale of 25,180 shares by 10% owner Wengen Investments Ltd at $13.27 each, following upbeat Q3 earnings.
Laureate Education's insider sale by a significant shareholder may raise concerns, but the company's positive Q3 earnings could suggest that the impact on the stock price will be neutral in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Semrush Holdings' Director Dmitry Melnikov sold 78,978 shares at $9.78 each after the company posted better-than-expected Q3 earnings.
While insider sales can be a negative signal, the fact that Semrush Holdings had better-than-expected Q3 earnings could counterbalance the impact. The sale might be part of a preplanned strategy rather than a lack of confidence.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70