Cisco Systems, Electronic Arts And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Avi Kapoor
Insiders at Cisco Systems, Broadcom, Electronic Arts, and Best Buy have recently sold significant amounts of shares. Cisco's EVP and CFO sold shares worth around $6 million, Broadcom's CEO sold shares worth approximately $21.79 million, EA's Chief Legal Officer sold shares valued at around $140,530, and Best Buy's 10% owner sold shares worth about $24.15 million. These sales come amidst various company-specific developments such as Cisco's legal victory, Broadcom's positive earnings and dividend increase, EA's new analyst coverage, and Best Buy's strong earnings but lowered future guidance.
December 19, 2023 | 1:09 pm
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Best Buy's 10% owner sold shares worth $24.15 million after the company reported strong Q3 earnings but lowered its FY24 guidance.
The substantial sale by a major owner, combined with lowered future guidance, could be seen as a lack of confidence in the company's short-term prospects.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Broadcom's CEO sold 20,000 shares for about $21.79 million following the company's strong earnings report and dividend increase.
The CEO's sale might raise eyebrows, but the positive earnings and increased dividend could suggest continued company strength.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 70
NEUTRAL IMPACT
Cisco's EVP and CFO sold shares worth $6M. The company recently won a significant legal battle over patent infringement claims.
While insider selling can be a bearish signal, the recent legal victory could offset concerns and maintain investor confidence in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
EA's Chief Legal Officer sold 1,000 shares at $140.53 each after the company received a Peer Perform rating from Wolfe Research.
The insider sale is minor compared to the company's overall market cap, and the new analyst rating may not significantly impact the stock.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60