Charles Schwab, Applied Materials And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Avi Kapoor
The Nasdaq 100 closed lower by over 1% on Monday, with notable insider sales from Charles Schwab, Applied Materials, AppFolio, and SEI Investments. Insider sales can indicate concerns about a company's prospects or that the stock is overpriced. However, they should not be the sole basis for investment decisions.
June 25, 2024 | 12:42 pm
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NEGATIVE IMPACT
Applied Materials Director Thomas J Iannotti sold 9,827 shares at an average price of $236.65, totaling around $2.3 million. B. Riley Securities recently raised the price target from $255 to $300 with a Buy rating.
The insider sale might suggest concerns about the stock's current valuation, despite the recent positive analyst rating and increased price target.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
AppFolio Director Maurice J Duca sold 11,746 shares at an average price of $231.52, totaling around $2.72 million. Piper Sandler recently initiated coverage with an Overweight rating and a $295 price target.
The insider sale by a director could indicate concerns about the stock's current valuation, despite the recent positive analyst coverage.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Charles Schwab Director Carolyn Schwab-Pomerantz sold 9,000 shares at an average price of $72.49, totaling around $652,373. Keefe, Bruyette & Woods recently maintained a Market Perform rating with a $76 price target.
The insider sale could indicate concerns about the stock's current valuation, despite the maintained Market Perform rating.
CONFIDENCE 85
IMPORTANCE 65
RELEVANCE 75
NEGATIVE IMPACT
SEI Investments Director William Doran sold 5,000 shares at an average price of $67.04, totaling around $335,200. SEI recently declared a dividend of 46 cents per share.
The insider sale might suggest concerns about the stock's valuation, even though the company recently declared a dividend.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70