Visa, NetApp And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Avi Kapoor
The Nasdaq 100 closed higher by around 1.5% on Wednesday. Notable insider sales were observed in Progress Software, Visa, Hubbell, and NetApp. Insider sales can indicate various factors, including preplanned sales or concerns about the company's prospects.
May 16, 2024 | 12:20 pm
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NEGATIVE IMPACT
Hubbell President Electrical Solutions Mark Eugene Mikes sold 1,942 shares at $401.34, totaling around $779,410. Hubbell recently posted upbeat quarterly results.
Despite recent positive quarterly results, the insider sale by a high-ranking executive could indicate concerns about the company's future prospects or that the stock is perceived as overpriced.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
NetApp CEO George Kurian sold 8,500 shares at $108.57, totaling around $922,845. NetApp is expected to announce financial results for the fourth quarter on May 30.
The insider sale by a high-ranking executive ahead of the financial results announcement could indicate concerns about the company's future prospects or that the stock is perceived as overpriced.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Progress Software EVP/GM John Ainsworth sold 30,631 shares at $51.03, totaling around $1.56 million. The company recently stated it has no intention to make an offer for MariaDB.
The insider sale by a high-ranking executive could indicate concerns about the company's future prospects or that the stock is perceived as overpriced.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Visa Chief Risk Officer Paul D Fabara sold 25,293 shares at $277.15, totaling around $7 million. Visa recently unveiled new products and services at the Annual Visa Payments Forum.
The insider sale by a high-ranking executive could indicate concerns about the company's future prospects or that the stock is perceived as overpriced.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80