Upstart, Insulet And 2 Other Stocks Executives Are Selling
Portfolio Pulse from Avi Kapoor
Insider sales were reported for Upstart Holdings, Zillow Group, Intuit, and Insulet. These sales may indicate concerns about company prospects or stock overvaluation. Notable sales include Upstart's CFO selling 1,500 shares, Zillow's President selling 6,031 shares, Intuit's CTO selling 2,941 shares, and Insulet's Director selling 5,000 shares.
September 12, 2024 | 11:44 am
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NEGATIVE IMPACT
Upstart's CFO sold 1,500 shares at $34.85 each, totaling $52,275. This sale follows a JP Morgan analyst maintaining an Underweight rating with a price target increase from $27 to $30.
The insider sale by Upstart's CFO, combined with an Underweight rating from JP Morgan, suggests potential concerns about the company's valuation or future prospects, likely leading to short-term downward pressure on the stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Insulet's Director sold 5,000 shares at $225.84 each, totaling $1.1 million. The sale comes after the Omnipod's new indication for type 2 diabetes in the US.
The insider sale is balanced by the positive news of the Omnipod's new indication, suggesting a neutral short-term impact as the market weighs the insider sale against the product expansion.
CONFIDENCE 85
IMPORTANCE 65
RELEVANCE 80
NEUTRAL IMPACT
Zillow's President sold 6,031 shares at $54.16 each, totaling $326,658. JMP Securities reiterated a Market Outperform rating with a $62 price target.
Despite the insider sale, the reiteration of a Market Outperform rating by JMP Securities suggests a neutral short-term impact, as the positive analyst outlook may offset concerns from the insider sale.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
Intuit's CTO sold 2,941 shares at $628.76 each, totaling $1.85 million. The sale follows strong Q4 results and a new $3 billion repurchase authorization.
The insider sale is countered by Intuit's strong financial performance and a significant share repurchase plan, likely leading to a positive short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 80