SLB, Nike And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Avi Kapoor
Insiders at DraftKings, Fox Corporation, Nike, and Schlumberger have recently sold shares. These sales could indicate concerns about the companies' prospects or that the stocks are overpriced. Notable sales include DraftKings' Director Jocelyn Moore, Fox Corporation's CFO Steven Tomsic, Nike's CFO Matthew Friend, and Schlumberger's Chief People Officer Bejar Carmen Rando.
June 10, 2024 | 12:12 pm
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NEUTRAL IMPACT
Schlumberger Chief People Officer Bejar Carmen Rando sold 4,980 shares at an average price of $43.43, totaling around $216,281. This follows the company's upbeat first-quarter sales report.
Despite the insider sale, the recent upbeat sales report may mitigate negative sentiment, leading to a neutral short-term impact on the stock price.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 100
NEGATIVE IMPACT
DraftKings Director Jocelyn Moore sold 2,853 shares at an average price of $36.28, totaling around $103,518. This follows a recent mixed securities shelf offering by the company.
The insider sale by a director, combined with a recent mixed securities shelf offering, may indicate concerns about the stock's valuation or future prospects.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Fox Corporation CFO Steven Tomsic sold 30,000 shares at an average price of $34.26, totaling around $1.03 million. This comes after Fox reported third-quarter revenues that beat analyst estimates.
Despite beating revenue estimates, the insider sale by the CFO may signal concerns about the company's future performance or stock valuation.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
Nike CFO Matthew Friend sold 9,350 shares at an average price of $95.10, totaling around $889,185. This follows workforce reductions at Nike's European headquarters.
The insider sale by the CFO, along with recent workforce reductions, may indicate concerns about the company's cost-cutting measures and future profitability.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 100