Several key insiders at JPMorgan Chase (JPM) sold the company’s shares, totaling $8.05 million yesterday. According to the recent SEC filing, co-CEO of Corporate & Investment Banking (CIB), Troy L. Rohrbaugh divested 25,000 shares of JPM on March 24, at an average price of $247.02 per share, for a total transaction value of $6.18 million.
Further, Chief Operating Officer Jennifer Piepszak sold 4,272 shares of the company, worth $1.06 million. Also, Chief Information Officer Lori Beer and Head of Human Resources Robin Leopold offloaded shares for a total value of $506,680 and $308,650, respectively.
Bearish Insider Sentiment for JPM Stock
It is worth noting that the above-mentioned executives are not the only ones who reduced their stake in the company. Based on other informative insider transactions from the last three months, corporate insiders have sold $264.5 million worth of JPMorgan stock.
Overall, TipRanks’ Insider Trading Activity Tool shows that insider confidence in the stock is currently Very Negative.
Investors may benefit from keeping an eye on transactions made by key insiders, as these transactions reflect their confidence in the company’s prospects. Interestingly, TipRanks offers daily insider transactions as well as a list of top corporate insiders. It also provides a list of hot stocks that boast either a Very Positive or Positive insider confidence signal.
JPM Stock Rises 19.3% in Six Months
It is worth noting that insider sales come after JPMorgan stock has risen over 19% in the past six months. The company continues to benefit from its diversified business model along with investments in technology and digital tools.
Recently, a Wells Fargo (WFC) analyst Mike Mayo called JPMorgan stock the “Nvidia (NVDA) of banking,” due to its leadership in adopting artificial intelligence (AI). Mayo noted JPMorgan’s huge investments in technology, with a budget of $18 billion for 2025, which surpasses other banks.
Is JPM a Buy, Hold, or Sell?
Turning to Wall Street, JPM stock has a Moderate Buy consensus rating based on 12 Buys and six Holds assigned in the last three months. At $274.40, the average JPMorgan price target implies a 10.62% upside potential.
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