Bentley Systems And 1 Other Stock Executives Are Selling
Portfolio Pulse from Avi Kapoor
The Nasdaq 100 rose by 2.5%, with investors focusing on insider trades. Notable sales include Bentley Systems' Chief Product Officer selling shares and Clean Harbors' Director selling shares. Insider sales can indicate concerns or overvaluation but should not be the sole basis for investment decisions.
September 20, 2024 | 12:49 pm
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NEGATIVE IMPACT
Bentley Systems' Chief Product Officer sold 4,578 shares at $47.27 each, totaling $216,416. Despite the sale, a recent analyst maintained a Buy rating with a $62 price target.
The insider sale by Bentley Systems' CPO might indicate concerns or a view that the stock is overpriced. However, the recent Buy rating and $62 price target by an analyst could mitigate negative sentiment.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Clean Harbors' Director sold 309 shares at $244.09, totaling $75,424. The company recently reported strong Q2 results and raised FY24 EBITDA guidance.
The insider sale by Clean Harbors' Director is relatively small and follows strong financial results and raised guidance, which may neutralize any negative impact from the sale.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70