Top 20 ASX trades by Sharesight users – August 2023
Welcome to the August 2023 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 strongly led by Vaguard’s Australian Shares Index ETF (ASX: VAS), followed by Resmed (ASX: RMD), which reported revenue growth of 23% YoY. Over the same period, sell trades were led by Pilbara Minerals (ASX: PLS), which saw its share price drop despite reporting 326% profit growth in its FY23 results. Overall, this month’s top trades were largely dominated by index-tracking ETFs as well as stocks in the mining and minerals sectors.
Top 20 ASX trades August 2023
Let’s look at the news behind some of the key stocks in this month’s snapshot:
ResMed (ASX: RMD)
- ResMed revenue grows 23% YoY to AU$1.1 billion
- Share price plummets 19% as ResMed reveals falling gross margins
- Short sellers target ResMed due to growing popularity of weight loss drug Ozempic
CSL (ASX: CSL)
- Leading broker predicts 23% upside for CSL
- CSL share price could come under pressure as new competitor enters the market
- CSL announces “supersized” dividend payment
BHP (ASX: BHP)
- BHP profit drops 37%, fuelled by Chinese economic woes
- Residents object to BHP’s proposed mining camp in Kargoorlie-Boulder
- BHP to boycott Queensland for new investment following introduction of coal royalty regime
Pilbara Minerals (ASX: PLS)
- Pilbara share price on watch following 326% profit growth in FY23 results
- Pilbara shares down despite profit growth; leading broker downgrades rating to neutral
- Could Pilbara be impacted by WA’s revised cultural heritage laws?
Westpac (ASX: WBC)
- Westpac announces AU$1.8 billion quarterly profit; 10% down from first-half quarterly average
- Westpac share price drops as quarterly profit falls short of market expectations
- Leading broker bullish on Westpac; expects dividends to keep growing over next year
Woodside Energy (ASX: WDS)
- Woodside approved to develop Mexico’s Trion deepwater oil project
- Share price rises on news of Mexico project approval
- Woodside puts US$1 billion-worth of projects up for sale
Fortescue Metals (ASX: FMG)
- Fortescue shares plummet as CEO announces departure after less than 6 months in role
- Reveals 23% profit decline in FY23 earnings results
- Fortescue’s Iron Bridge project faces US$1 billion devaluation
Track your investment portfolio with Sharesight
Get access to Sharesight20 insights like this by tracking your investment portfolio with Sharesight. Built for the needs of investors like you:
- Track all your investments in one place, including stocks, mutual/managed funds, property, and even cryptocurrency
- Get the true picture of your investment performance, including the impact of brokerage fees, dividends, and capital gains with Sharesight’s annualised performance calculation methodology
- Run powerful reports built for investors, including performance, portfolio diversity, contribution analysis, multi-period, multi-currency valuation and future income
- Run tax reports including taxable income (dividends/distributions), Capital Gains Tax (Australia and Canada), Traders Tax (Capital Gains for traders in NZ) and FIF foreign investment fund income reports (NZ)
Sign up for a FREE Sharesight account and get started tracking your investments today.
Disclaimer: The above article is for informational purposes only and does not constitute a specific product recommendation, or taxation or financial advice and should not be relied upon as such. While we use reasonable endeavours to keep the information up-to-date, we make no representation that any information is accurate or up-to-date. If you choose to make use of the content in this article, you do so at your own risk. To the extent permitted by law, we do not assume any responsibility or liability arising from or connected with your use or reliance on the content on our site. Please check with your adviser or accountant to obtain the correct advice for your situation.
FURTHER READING
Top 20 NZX trades by Sharesight users – September 2023
Welcome to the September 2023 edition of Sharesight’s monthly NZX trading snapshot, where we look at the top 20 trades Sharesight users made on the NZX.
Get ausbiz market insights in Sharesight
Stay on top of your ASX investments with convenient access to the ausbiz news feed, right in your Sharesight portfolio.
Track your Webull trades with Sharesight
If you trade via Webull, you can automatically import your trading data to Sharesight, making it easy to track the performance of your investment portfolio.