Broadcom, Intuit And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Avi Kapoor
Insiders at Block, Broadcom, Intuit, and Autodesk have recently sold shares of their companies. Block's CFO and COO sold shares at an average price of $77.81, while Broadcom's President and CEO sold shares at $1,122.46 average price. Intuit's Director sold shares at $622.92 average price, and Autodesk's Director sold at $244.00. These sales occurred amidst various company updates, including Block's transaction growth, Broadcom's mixed results with positive guidance, Intuit's better-than-expected earnings, and Autodesk's upbeat quarterly results.
December 26, 2023 | 12:25 pm
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NEGATIVE IMPACT
Autodesk's Director sold 5,000 shares at $244.00 each after the company posted upbeat results for the third quarter.
Despite the positive quarterly results, insider sales could be interpreted as a lack of confidence, potentially affecting the stock negatively in the short term.
CONFIDENCE 70
IMPORTANCE 55
RELEVANCE 60
NEGATIVE IMPACT
Broadcom's CEO sold 20,000 shares at $1,122.46 each, and a Director sold 800 shares, despite the company issuing positive revenue guidance for FY24.
While insider selling is typically a negative signal, the positive revenue guidance could soften the impact on the stock price. The score reflects the mixed signals.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 70
NEGATIVE IMPACT
Intuit's Director sold 1,631 shares at $622.92 each following the company's report of better-than-expected earnings for its fiscal first quarter.
The insider sale after a positive earnings report might raise questions, but the strong earnings could counterbalance the negative perception of the sale.
CONFIDENCE 70
IMPORTANCE 55
RELEVANCE 60
NEGATIVE IMPACT
Block's CFO and COO sold 3,787 shares at $77.81 each amid news of transaction growth. Insider sales may suggest a lack of confidence or a preplanned sale.
Insider sales can be a bearish signal, but the context of increased transactions could mitigate the impact. The score reflects potential investor concern over insider selling.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70