DelBene Exits MSFT Stock Prior to Tech Giant's Impressive Rally
In a recent filing, Democratic House Representative Suzan DelBene from Washington State revealed a significant liquidation of shares in tech giant Microsoft Corp (MSFT:US). The sale, executed by her spouse, comes amid a strong performance of the stock, which has seen a near 31% surge since DelBene's first transaction in August 2022.
DelBene disclosed sales of Microsoft shares amounting between $1 million and $5 million on August 30, 2022, and an additional $250,000 to $500,000 on March 1, 2023. It's noteworthy that DelBene holds a significant position on the influential Ways & Means committee, tasked with overseeing all matters relating to taxation and revenue, making the stock dealings particularly intriguing to market observers.
Microsoft has been on a bullish run for the past six months, notably capitalizing on the hype surrounding Chat GPT and AI technologies. With a current price-to-earnings (P/E) ratio standing at 36.56 and a forward P/E of 30.82, Microsoft continues to hold promising prospects for its investor base.
The company's planned $69 billion acquisition of Activision Blizzard(ATVI:US) is facing pushback from both U.S. and UK regulators. The Federal Trade Commission (FTC) has filed an emergency motion to halt the merger, while UK competition authorities have vetoed the deal. Microsoft is currently appealing the UK order.
