Goldman Sachs, Yum! Brands And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Avi Kapoor
The Nasdaq 100 closed higher by over 100 points on Monday. Notable insider trades were observed in Nerdy, Carvana, Goldman Sachs, and Yum! Brands. Insider sales can indicate various factors, including concerns about company prospects or stock overvaluation.
May 21, 2024 | 12:30 pm
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NEUTRAL IMPACT
Carvana's 10% owner ECG II SPE, LLC sold 120,000 shares at an average price of $118.58, totaling around $14.23 million. Carvana anticipates a surge in used car sales amid a potential oversupply of new vehicles.
The large insider sale might be concerning, but the anticipated surge in used car sales could mitigate negative impacts.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Nerdy CFO Jason H. Pello sold 37,360 shares at an average price of $2.07, totaling around $77,335. Despite the sale, Nerdy posted better-than-expected quarterly results on May 7.
The insider sale by the CFO might raise concerns, but the recent strong quarterly results could offset negative sentiment.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Goldman Sachs EVP John F.W. Rogers sold 14,794 shares at an average price of $466.22, totaling around $6.9 million. Wells Fargo analyst Mike Mayo maintained an Overweight rating and raised the price target from $450 to $504 on May 7.
Despite the insider sale, the positive analyst rating and increased price target are likely to boost investor confidence.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Yum! Brands Chief Legal & Franchise Officer Scott Catlett sold 5,994 shares at an average price of $141.50, totaling around $848,151. On May 15, Yum! Brands declared a quarterly dividend of 67 cents per share and authorized up to $2.0 billion in share repurchases.
The insider sale might raise concerns, but the dividend declaration and share repurchase authorization are positive signals for investors.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 85