Congressman Earl Blumenauer, who represents Oregon’s 3rd Congressional District, recently sold multiple stocks including Berkshire Hathaway (BRK.A:NYE) and Bank of America (BAC:NYE), according to CapitolTrades.com, a platform that offers data related to politicians’ trades.
Blumenauer sold these stocks in March with transaction sizes ranging from $1-$50K. Hedge funds sold 5.5M shares of BRK.B in the last quarter, and insiders sold $2M worth of BRK.B stock during the same period. Meanwhile, insiders sold $71.6M worth of BAC stock.
Berkshire Hathaway Stock:
Berkshire Hathaway stock has received one Buy and one Hold rating with an average price target of $353, implying 12.96% upside potential. Hedge funds and insiders selling their shares suggest near-term challenges for the stock.
BAC Stock:
Bank of America has dropped over 15% YTD, and analysts are cautiously optimistic with a Moderate Buy consensus rating on Stock Target Advisor, reflecting eight Buys, six Holds, and two Sells. The average price target of $38.14 implies 37% upside potential. The Neutral Smart Scores of both stocks suggest that they are likely to trade in line with the broader markets.
Investors can use the trades of politicians to make informed investment decisions, and Stock Target Advisors’ tools to trade confidently. Near-term challenges for BAC stock and BRK.B stock suggest that their upside potential may be restricted.
