Tech Insiders Sell Shares as Markets Hit All-Time Highs

Investing

Published: December 27, 2014 9:10 am

Last Updated: December 27, 2014 9:11 am

In a week when the markets were putting in some all-time highs, many insiders stayed on the sidelines, which is yet another positive as the bull market looks to continue as we head into 2015. While some of the reported trades were reasonably large from a dollar standpoint, the overall number of shares traded was much lower than we have been seeing during our weekly reporting here at 24/7 Wall St.

As we have often stated, insider selling is not necessarily a negative. Many executives are compensated in stock options or shares and become overweight to their own company’s stocks in portfolios. Sales are often a way to diversify and spread capital to other investment areas.

Here are this past week’s top insider selling trades to hit our screens.

Adobe Systems Inc. (NASDAQ: ADBE) hits the screens for the second week in a row, and in a big way. Once again 10% holder ValueAct Holdings is hitting the bid pretty hard. The company sold 5.1 million shares of the software giant at prices that ranged from $74.57 to $75.02. The total sale came to a gigantic $380.6 million. Shares of Adobe were trading at Friday’s close at $74.67.

ICU Medical Inc. (NASDAQ: ICUI) had a director of the company sell a sizable block of 123,181 shares of the stock at prices between $82.21 and $84.43. The total sale came to a tidy $10.3 million. The company is a leader in the development, manufacture and sale of innovative medical devices used in infusion therapy, oncology and critical care applications. Shares closed trading on Friday at $83.31.

ALSO READ: Insiders Still Buying Shares During Holiday-Shortened Trading Week

Workday Inc. (NYSE: WDAY) saw the chief financial officer of the software as a service (SaaS) company sell a block of stock this week. He sold 80,000 shares at $82.34 for a total of $6.6 million. The stock has been extremely volatile, and the sell comes at the lower band of the past six months’ trading levels. Shareholders may want to review their portfolios to see if this stock is held and double-check the thesis for owning it. Shares ended the week at $84.96.

Validus Holdings Ltd. (NYSE: VR) saw a sizable sale when one directors sold a block of 447,793 shares of the company stock at prices that ranged from $41.01 to $41.24. The total sale came to a whopping $18.4 million. With shares hitting 52-week highs, it really looks like a profit-taking trade. The stock closed on Friday at $41.66.

FactSet Research Systems Inc. (NYSE: FDS) saw the CEO of the company sell a block of 40,000 shares of the stock this week. The sale all came at $143.80 per share, for a total dollar amount of $5.8 million. The company is a leading provider of integrated global financial information and analytical applications to the investment community. Shares were trading at $144.59 at Friday’s close, so some money was left on the table.

ALSO READ: The 5 Cheapest Dow Stocks for 2015

Other companies that saw insider selling this week included SL Green Realty Corp. (NYSE SLG), Herzfeld Caribbean Basin Fund Inc. (NASDAQ: CUBA), Diamondback Energy Inc. (NASDAQ: FANG), Graham Holdings Co. (NYSE: GHC) and Xoma Corp. (NASDAQ: XOMA).

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