Amazon, Broadcom And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Avi Kapoor
Insider sales were reported for Amazon, Broadcom, Costco, and Lam Research. These sales could indicate concerns about the companies' prospects or that the stocks are overpriced. Broadcom's CEO sold shares worth $12.8 million, Costco's Daniel M. Hines sold shares worth $2.54 million, Amazon's Jeffrey P. Bezos sold shares worth $80.8 million, and Lam Research's Neil J. Fernandes sold shares worth $1.7 million.
July 16, 2024 | 12:24 pm
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Amazon's Executive Chair Jeffrey P. Bezos sold 403,974 shares at an average price of $200.03, totaling $80.8 million. This sale follows Amazon's showcase of its generative AI capabilities at the AWS NYC Summit.
The large-scale insider sale by a prominent figure like Bezos could indicate concerns about the company's future prospects or that the stock is currently overvalued, likely leading to a short-term negative impact on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Broadcom's President and CEO Hock E Tan sold 7,502 shares at an average price of $1,705.95, totaling $12.8 million. This sale comes after Broadcom announced a 10-for-1 stock split in June.
The significant insider sale by the CEO could indicate concerns about the company's future prospects or that the stock is currently overvalued. This may lead to a short-term negative impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Costco's Daniel M. Hines sold 3,000 shares at an average price of $846.37, totaling $2.54 million. This follows Costco's June sales report and a membership fee increase announcement.
The insider sale by a key executive could suggest concerns about the company's valuation or future performance, potentially leading to a short-term negative impact on the stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Lam Research's Senior Vice President Neil J. Fernandes sold 1,620 shares at an average price of $1,056.99, totaling $1.7 million. This sale comes ahead of Lam Research's quarterly financial conference call and webcast.
The insider sale by a senior executive could suggest concerns about the company's upcoming financial performance, potentially leading to a short-term negative impact on the stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100