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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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
NEGATIVE IMPACT
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