Qualcomm, Morgan Stanley And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Avi Kapoor
The Nasdaq 100 closed lower by around 0.2% on Thursday. Notable insider sales were reported for Morgan Stanley, Qualcomm, Yelp, and FactSet Research Systems. Insider sales can indicate concerns about a company's prospects or that the stock is overpriced.
May 17, 2024 | 11:58 am
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NEGATIVE IMPACT
FactSet Research's EVP sold 1,500 shares at an average price of $445.81, totaling around $668,715. FactSet recently reported second-quarter fiscal 2024 sales growth of 6.0% Y/Y, marginally missing the consensus.
Insider sales can indicate concerns about the company's prospects or that the stock is overpriced. The recent sales growth miss adds to the negative sentiment.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Morgan Stanley's Chief Human Resources Officer sold 6,954 shares at an average price of $99.61, totaling around $692,663. The company recently entered a deal to acquire $700 million of property loans from the failed Signature Bank.
Insider sales can indicate concerns about the company's prospects or that the stock is overpriced. The recent acquisition deal adds complexity to the stock's outlook.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Qualcomm's President and CEO sold 8,100 shares at an average price of $190.01, totaling around $1.54 million. Qualcomm recently announced a collaboration with Aramco to accelerate the development of the industrial 4G/5G NGN ecosystem.
Insider sales can indicate concerns about the company's prospects or that the stock is overpriced. The recent collaboration with Aramco is a positive development but may not offset the negative sentiment from the insider sale.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Yelp's CFO sold 2,750 shares at an average price of $38.07, totaling around $104,693. Yelp recently reported a first-quarter revenue miss.
Insider sales can indicate concerns about the company's prospects or that the stock is overpriced. The recent revenue miss adds to the negative sentiment.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70