SLB, Micron Technology And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Avi Kapoor
The Nasdaq 100 closed higher by more than 100 points on Tuesday. Notable insider trades were observed in Micron Technology, Vulcan Materials, Schlumberger, and JPMorgan Chase. Insider sales can indicate various factors, including preplanned sales or concerns about the company's prospects.
May 15, 2024 | 12:14 pm
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NEUTRAL IMPACT
JPMorgan Chase CEO CCB Marianne Lake sold 11,734 shares at an average price of $200.02, totaling around $2.35 million. The company recently inaugurated a new Community Center branch in the Bronx.
The insider sale might raise some concerns, but the recent community engagement initiative could help maintain a neutral short-term impact.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
NEUTRAL IMPACT
Schlumberger CTO Demosthenis Pafitis sold 63,095 shares at an average price of $48.26, totaling around $3.04 million. The company recently posted upbeat quarterly sales.
The insider sale might cause some concern, but the recent positive quarterly sales report could offset the negative sentiment, resulting in a neutral short-term impact.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEUTRAL IMPACT
Vulcan Materials President Thompson S Baker II sold 15,210 shares at an average price of $272.95, totaling around $4.15 million. The company recently reported upbeat first-quarter results.
The insider sale might raise some concerns, but the recent strong quarterly results could balance the impact, leading to a neutral short-term effect.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Micron Technology EVP, Global Operations Manish H Bhatia sold 40,650 shares at an average price of $120.89, totaling around $4.91 million. Barclays analyst Tom O’Malley recently maintained an Overweight rating and raised the price target from $120 to $145.
The insider sale by a high-ranking executive could indicate concerns about the stock's current valuation. However, the recent positive analyst rating may mitigate some negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100