Qualcomm, NetApp And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Avi Kapoor
Insiders at Qualcomm, NetApp, Box, and Acuity Brands have recently sold shares of their companies. Qualcomm's CCO sold 1,000 shares, NetApp's CFO sold 15,000 shares, Box's CFO and Controller sold a combined 20,750 shares, and Acuity Brands' SVP & General Counsel sold 1,900 shares. These sales occurred amidst various company-specific news such as product announcements, analyst ratings, and financial results.
January 12, 2024 | 1:49 pm
News sentiment analysis
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NEGATIVE IMPACT
NetApp's CFO sold 15,000 shares at $86.11 each. The company was downgraded by JP Morgan, which could negatively affect the stock.
The CFO's sale of shares combined with a downgrade from JP Morgan could lead to a negative short-term impact on the stock.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 80
NEUTRAL IMPACT
Acuity Brands' SVP & General Counsel sold 1,900 shares at $226.01 each. The company reported strong Q1 results, which might support the stock price.
The insider sale at Acuity Brands follows positive earnings, which could mitigate any negative impact from the sale.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
NEUTRAL IMPACT
Qualcomm's CCO sold 1,000 shares at $139 each. The company announced the Snapdragon XR2+ Gen 2 Platform, which may positively impact the stock.
While insider selling can be a negative signal, the release of a new product could counterbalance the impact on the stock price.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 70
POSITIVE IMPACT
Box's CFO and Controller sold 20,750 shares. UBS initiated coverage with a Buy rating and a $33 price target, which may lift the stock.
Despite insider sales, a positive analyst rating from UBS could provide upward momentum for the stock.
CONFIDENCE 70
IMPORTANCE 55
RELEVANCE 70