Top Issuers Disclose Form 144s Amidst Q1 Earnings Anticipation

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In the intricate world of securities trading, Form 144 is a crucial document filed with the Securities and Exchange Commission (SEC), signaling an insider's intent to sell restricted or controlled securities. Despite its significance, Form 144 remains enigmatic to many.

Alphabet Inc.

Alphabet Inc. (GOOG:US) is a leading multinational technology conglomerate, ranked as the world's third-largest technology company by revenue and holding immense market value, with a current market cap nearing $321.58 billion. The CEO Sundar Pichai at the company filed to sell 26,500 GOOG shares, which are valued at almost $4,16 million. GOOG stock surged by almost 13.18% YTD, and Alphabet is set to reveal its 2024 report on 25 April. They previously revealed a 13% rise in revenues in its Q4 and fiscal 2023 full-year report. 

Snap Inc.

Snap Inc. (SNAP:US) is a tech company known for its products like Snapchat, Spectacles, and Bitmoji. With a market capitalization of nearly $38.8 billion, Snap has established itself as a significant player in the industry. On April 16, Snap's COO, Rebecca Morrow, filed to sell 428 SNAP shares at $10.41 each, totaling $4,455.

On February 06, the technology company disclosed its strong fourth quarter and full year 2023 financial results, featuring a 5% rise in revenues YoY. Currently priced at $11.39, SNAP stock surged by almost 17.30% in the last six months

Tesla Inc.

Tesla Inc’s (TSLA:US) Q1 2024 earnings came out on April 23. The EV maker reported a 13% drop in total automotive revenues YoY. Adding to Tesla’s lukewarm performance so far was an announcement that said that Tesla would lay off more than 10% of its workforce.

Andrew David Baglino serves as the Senior Vice President at Tesla Inc. On April 1 and 25, he filed two Form 144s via broker Morgan Stanley Smith Barney LLC. As per the forms, he plans to sell 1,151,862 TSLA shares. At an average price of $172.70 per share, these are worth almost $198.92 million. 

TSLA stock is down by 31.50% year-to-date but recently closed higher in the past five days, as the company CEO, Elon Musk, disclosed new affordable car models.

Visa Inc.

One of the world’s biggest payment technology companies, Visa Inc (V:US) released its fiscal Q2 2024 earnings on April 23, 2024. Ryan Mcinerney, Chief Executive Officer, Visa Inc., commented on the results: "Our 2024 fiscal year is off to a solid start... Consumer spending remained resilient. Looking ahead, we continue to see significant opportunity across consumer payments."

On April 1, Visa’s CEO Ryan McInerney filed a form 144 with plans to sell 8,200 shares. Filed under the broker Merrill Lynch Wealth Management, this trade was filed at $278.28 per share giving the total value of the shares at nearly $2.28 million. V stock is up by 18.97% in the past six months.