Apple, Alphabet And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Avi Kapoor
The Nasdaq 100 closed lower by over 1% during Wednesday's session, with notable insider trades in Alphabet, Apple, Bank of America, and Western Digital. Insider sales can indicate concerns about a company's prospects or that the stock is overpriced. Alphabet's CEO sold 22,500 shares, Apple's SVP sold 104,500 shares, Bank of America's Merrill Wealth Mgmt President sold 10,901 shares, and Western Digital's EVP sold 12,154 shares.
August 08, 2024 | 12:28 pm
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Apple SVP Katherine L. Adams sold 104,500 shares at $206.44 each, totaling around $20.6 million. This comes as Apple may charge up to $20 for advanced AI features.
Large insider sales by a senior executive can signal concerns about the company's future or that the stock is overpriced, potentially leading to a short-term price decline.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Bank of America's Merrill Wealth Mgmt President Lindsay D. Hans sold 10,901 shares at $36.92 each, totaling around $402,410. This follows the announcement of the full redemption of Series X preferred stock.
Insider sales by a high-ranking executive can indicate concerns about the company's future or that the stock is overpriced, potentially leading to a short-term price decline.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Alphabet CEO Sundar Pichai sold 22,500 shares at $162.35 each, totaling around $3.7 million. This insider sale comes as YouTube Shorts hits a significant milestone in India.
Insider sales by a CEO can indicate concerns about the company's future or that the stock is overpriced, potentially leading to a short-term price decline.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Western Digital EVP Robert Soderbery sold 12,154 shares at $57.09 each, totaling around $693,860. This follows a strong earnings report that beat analyst estimates.
Despite strong earnings, insider sales by a senior executive can indicate concerns about the company's future or that the stock is overpriced, potentially leading to a short-term price decline.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70