FICO Stock Surges 70% After Josh Gottheimer's Stock Purchase

Tuesday, 8 October 2024, 11:18

FICO stock has surged 70% since Rep. Josh Gottheimer disclosed a purchase of shares. This politician stock trading raises questions about public officials' trading ethics.
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FICO Stock Surges 70% After Josh Gottheimer's Stock Purchase

FICO Stock Rises Dramatically Following Gottheimer’s Purchase

On April 29, Representative Josh Gottheimer of New Jersey purchased between $1,001 and $15,000 in shares of Fair Isaac Corporation (NYSE: FICO). Since then, FICO's stock has experienced a remarkable rally, gaining 70% and stimulating renewed discussions about whether public officials should engage in specific stock trading.

The timing of this purchase is notably controversial considering Gottheimer’s role on the House Financial Services Committee, which oversees financial regulations. On the day of his purchase, the FICO stock price was $1,143, one of the few days it closed in the red this year.

Estimating Gains from Gottheimer’s Investment

  • Given the current price of FICO at $1,953 per share, Gottheimer could see gains ranging from $708 to $10,620 from this mere trade.
  • The S&P 500, by contrast, has only risen 11.32% during the same timeframe.

Gottheimer is known for being an active trader within Congress. His estimated net worth fluctuates between $7,351,390 and $73,127,022, reflecting a history of significant investments in major companies such as Microsoft (NASDAQ: MSFT) and Ford (NYSE: F).

Gottheimer’s Track Record of Successful Trades

Gottheimer's investment strategies have frequently outperformed those of other high-profile congressional traders. For instance, his recent trade in Crinetics Pharmaceuticals (NASDAQ: CRNX) saw an 11.66% increase in stock value after he disclosed his involvement.

  1. January 24: Purchase of Agios Pharmaceuticals (NASDAQ: AGIO) — currently up 88.7% YTD.
  2. July 19: Investment in defense contractor Northrop Grumman — now up 21.93%.

As a reminder, while FICO expands its SaaS offerings and builds partnerships to prevent fraud, the timing of these trades merits scrutiny.

Investors should keep an eye on future trades disclosed by Gottheimer and the upcoming FICO earnings report scheduled for November 13.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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