SLB, Coinbase And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Avi Kapoor
Insiders at Schlumberger (SLB), Zions Bancorporation (ZION), Coinbase Global (COIN), and TimkenSteel (TMST) have recently sold shares of their companies. Schlumberger's Chief Sustainability Officer sold 8,000 shares, Zions Bancorporation's Exec VP sold 4,093 shares, Coinbase's Director sold 97,836 shares, and TimkenSteel's President and CEO sold 9,500 shares. These sales occurred as Schlumberger reported a revenue increase, Zions Bancorp posted better-than-expected earnings, Coinbase received an analyst upgrade, and TimkenSteel announced a name change to Metallus Inc.
January 30, 2024 | 12:49 pm
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NEUTRAL IMPACT
Coinbase's Director sold 97,836 shares. Recently, an Oppenheimer analyst upgraded the stock from Perform to Outperform with a price target of $160.
Despite the insider sale, the recent analyst upgrade and positive price target could support the stock's price.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 80
NEUTRAL IMPACT
Schlumberger's Chief Sustainability Officer sold 8,000 shares. The company recently reported a 14% year-over-year revenue increase, beating consensus.
While insider sales can indicate a lack of confidence, the company's strong revenue performance may mitigate negative impact.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 70
NEUTRAL IMPACT
TimkenSteel's President and CEO sold 9,500 shares as the company plans to change its name to Metallus Inc.
The sale occurs during a rebranding phase, which could have various implications for the stock's performance.
CONFIDENCE 70
IMPORTANCE 30
RELEVANCE 50
NEUTRAL IMPACT
Zions Bancorporation's Exec VP sold 4,093 shares after the company posted better-than-expected quarterly earnings.
The insider sale follows positive earnings, which could balance out any negative sentiment from the sale.
CONFIDENCE 75
IMPORTANCE 40
RELEVANCE 60