Palo Alto Networks, Nvidia, And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Avi Kapoor
Insiders at NVIDIA, Palo Alto Networks, Boston Scientific, and Jabil have recently sold shares of their respective companies. NVIDIA Director Mark A Stevens sold 36,000 shares, while Palo Alto Networks Director John Donovan sold 15,100 shares. Boston Scientific EVP Michael Joseph Fitzgerald sold 11,660 shares, and Jabil SVP Roberto Ferri sold 6,183 shares. These sales occurred amidst various company updates, including price target adjustments and acquisitions.
January 17, 2024 | 11:44 am
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NEUTRAL IMPACT
Boston Scientific EVP Michael Joseph Fitzgerald sold 11,660 shares at $60.00 each. The company is acquiring Axonics for approximately $3.7 billion.
The insider sale comes at a time when Boston Scientific is making a significant acquisition, which could be more influential on the stock's performance than the sale itself.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 70
NEUTRAL IMPACT
Jabil SVP Roberto Ferri sold 6,183 shares at $129.97 each. The company revised its Q2 guidance post-divestiture of its Mobility business.
The insider selling could be perceived negatively, but the recent business divestiture and updated guidance are likely to have a more significant impact on the stock.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
NVIDIA Director Mark A Stevens sold 36,000 shares at $546.95 each. Keybanc analyst raised the price target from $650 to $740.
While insider sales can indicate a lack of confidence, the raised price target by Keybanc suggests a positive outlook which may counterbalance the insider selling in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Palo Alto Networks Director John Donovan sold 15,100 shares at $330.03 each. Truist Securities raised the price target from $275 to $330.
The insider sale might be seen as negative, but the recent price target increase by Truist Securities could mitigate any adverse impact on the stock price.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70