Several companies, including AbbVie, Blackstone, and Roblox, experienced insider transactions this week. Notable purchases and sales were made by Nicholas Donoghoe, EVP and chief business strategy officer at AbbVie, between August 4 and August 8.
Several companies, including AbbVie, Blackstone, and Roblox, experienced notable insider transactions this week. These transactions provide insights into the sentiment and potential future direction of these companies.
AbbVie Inc. (NYSE: ABBV)
Nicholas Donoghoe, Executive VP and Chief Business & Strategy Officer at AbbVie, sold a substantial amount of shares worth US$2.6 million at a price of US$199 per share between August 4 and August 8. This sale reduced his total holding by 19%, which is not insignificant but not the worst seen [1].
Blackstone Inc. (NYSE: BX)
Joseph Baratta, the Global Head of Private Equity Strategies & Director at Blackstone, sold shares worth US$17 million at an average price of US$167. This sale reduced his total holding by 27%, which is also not insignificant but far from the worst seen [2]. Additionally, insiders sold more shares than they bought over the last year, with an average selling price of around US$165. Insider ownership at Blackstone is relatively high, with insiders owning 0.3% of the company, worth about US$594 million [2].
Roblox Corporation (NYSE: RBLX)
Roblox experienced insider transactions this week, with notable purchases and sales. Details on these transactions are not provided in the given sources.
Conclusion
Insider transactions can provide valuable insights into a company's future direction. While these transactions do not guarantee future performance, they can indicate the confidence or lack thereof of insiders in the company's prospects. It is crucial for investors to consider these transactions alongside other fundamental and technical analysis before making investment decisions.
References
[1] https://simplywall.st/stocks/us/pharmaceuticals-biotech/nyse-abbv/abbvie/news/this-insider-has-just-sold-shares-in-abbvie-1
[2] https://simplywall.st/stocks/us/diversified-financials/nyse-bx/blackstone/news/trade-alert-global-head-of-private-equity-strategies-directo
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