Top 20 ASX trades by Sharesight users – May 2024

Welcome to the May 2024 edition of Sharesight’s monthly ASX trading snapshot, where we look at the top 20 trades Sharesight users made on the ASX during the month.

In this snapshot, buy trades were led by Vanguard’s Australian Shares Index (ASX: VAS) and MSCI Index International Shares (ASX: VGS) ETFs. In terms of individual stocks, buy trades were led by Woodside Energy (ASX: WDS), which has seen its share price decline by 17% over the past six months. Over the same period, sell trades were led by BHP, with shareholders awaiting the outcome of the miner’s third Anglo American takeover bid.

Top 20 ASX trades May 2024

Let’s look at the news behind some of the key stocks in this month’s snapshot:

Woodside Energy (ASX: WDS)

• Woodside shares stable despite shareholder rejection of climate plan
• Share price has plummeted 17% in six months
• Woodside considering layoffs once flagship oil project begins

Telstra (ASX: TLS)

• Telstra share price falls following announcement of restructure, job cuts
• Share price hits three-year low
• Leading broker projects 27% upside for Telstra

BHP (ASX: BHP)

• Brokers are bullish on BHP following quarterly results
• BHP share price on watch ahead of Anglo American takeover decision
• Plans to divest South African assets as part of Anglo American takeover plan

Woolworths (ASX: WOW)

• Woolworths shareholders receive proceeds from sale of AU$468 million Endeavour stake
• CEO announces worse-than-expected quarterly results
• Woolworths shelf prices drop, offsetting consumer backlash but frustrating shareholders

Sonic Healthcare (ASX: SHL)

• Sonic Healthcare cuts annual profit forecast by over AU$100 million
• Share price drops to four-year low following earnings downgrade

Westpac (ASX: WBC)

• Westpac announces special dividend and supersized share buyback
• Share price rises as Westpac half-year earnings beat expectations
• Leading broker downgrades Westpac to sell rating

ANZ (ASX: ANZ)

• ANZ announces AU$2 billion share buyback despite falling profits
• Share price slides following first-half earnings results

Pilbara Minerals (ASX: PLS)

• Despite lithium sector gains, Pilbara still targeted by short sellers
• Leading broker expects Pilbara share price to fall 35% over the next year

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FURTHER READING

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• Top 20 ASX trades by Sharesight users – April 2024