Nvidia, Electronic Arts And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Avi Kapoor
The Nasdaq 100 closed lower by around 600 points on Wednesday, with notable insider sales in companies like Williams-Sonoma, NVIDIA, Electronic Arts, and Fifth Third Bancorp. Insider sales can indicate concerns about a company's prospects or that the stock is overpriced. Notable sales include Williams-Sonoma's CEO selling 40,000 shares, NVIDIA's CEO selling 240,000 shares, Electronic Arts' EVP selling 1,000 shares, and Fifth Third Bancorp's CIO selling 2,500 shares.
July 18, 2024 | 11:55 am
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Williams-Sonoma's President and CEO Laura Alber sold 40,000 shares at an average price of $156.45, totaling around $6.26 million. This sale follows a price target reduction by Wedbush analyst Seth Basham from $350 to $175.
The insider sale by the CEO, combined with a significant price target reduction by an analyst, suggests potential concerns about the company's future performance, likely leading to a short-term negative impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Electronic Arts' EVP, Global Affairs and CLO Jacob J. Schatz sold 1,000 shares at an average price of $144.86, totaling around $144,857. This sale follows a price target increase by Stifel analyst Drew Crum from $163 to $165.
The insider sale by the EVP is relatively small and is offset by a recent price target increase by an analyst, suggesting a neutral short-term impact on the stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
NEUTRAL IMPACT
Fifth Third Bancorp's EVP and CIO Jude Schramm sold 2,500 shares at an average price of $40.00, totaling around $100,000. This sale follows a price target increase by Jefferies from $42 to $43.
The insider sale by the CIO is relatively small and is offset by a recent price target increase by an analyst, suggesting a neutral short-term impact on the stock price.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 100
NEUTRAL IMPACT
NVIDIA's President and CEO Jen Hsun Huang sold 240,000 shares at an average price of $127.66, totaling around $30.64 million. This sale comes after TD Cowen analyst Matthew Ramsay raised the price target from $140 to $165.
While the insider sale by the CEO might raise concerns, the recent price target increase by an analyst suggests confidence in the company's future performance, leading to a neutral short-term impact on the stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100