Cirrus Logic, Texas Roadhouse And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Avi Kapoor
The Nasdaq 100 closed lower by over 1% on Thursday, with notable insider sales from executives at Lyft, Cars.com, Cirrus Logic, and Texas Roadhouse. Insider sales can indicate concerns about a company's prospects or that the stock is overpriced.
May 31, 2024 | 11:52 am
News sentiment analysis
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NEGATIVE IMPACT
Cirrus Logic's Director sold 1,000 shares at an average price of $115.85, totaling around $115,850. This follows the resignation of CFO Venk Nathamuni, effective May 24.
The insider sale combined with the recent resignation of the CFO could indicate potential instability or concerns within the company.
CONFIDENCE 85
IMPORTANCE 65
RELEVANCE 75
NEGATIVE IMPACT
Lyft's Chief Accounting Officer sold 9,083 shares at an average price of $15.67, totaling around $142,315. This sale follows a Hold rating from Needham analyst Bernie McTernan.
Insider sales can indicate concerns about the company's future or that the stock is overpriced. The recent Hold rating adds to the negative sentiment.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Cars.com's CEO sold 25,373 shares at an average price of $19.00, totaling around $482,087. This follows the company's upbeat quarterly results posted on May 9.
While insider sales can be a negative signal, the recent upbeat quarterly results may offset some of the negative sentiment.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Texas Roadhouse's CEO sold 15,000 shares at an average price of $171.70, totaling around $2.58 million. This follows a Neutral rating and a raised price target from JP Morgan.
The insider sale is balanced by the Neutral rating and raised price target from JP Morgan, indicating mixed signals for the stock.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70