Two more insiders at iconic tech giant Apple JUICED their holdings from Oct. 21 through 30, selling 268,051 shares for $28,595,267, an average of $106.68 each.
Eddy Cue, senior vice president of Internet software and services, sold 261,935 Apple (ticker: AAPL ) shares that were held indirectly for $27,970,743. His most recent previous transaction was on Aug. 26, 2013, when he sold 172,100 shares for $12,400,000, an average of $72.03 each. Cue owns 22,229 Apple shares through a trust.
Joining him was Chief FINANCIAL Officer Luca Maestri, who sold his entire direct stake of 6,116 shares for $624,523 through a 10b5-1 planned sale. His most recent previous transaction was on Sept. 10 when he sold 12,300 shares for $1,200,000, an average of $99.79 each, also through a planned sale.
Cue’s career at Apple spans 25 years. He currently oversees the iTunes Store, the APP STORE and the iBookstore, as well as Siri, Maps, iAd and Apple’s iCloud services. Maestri joined Apple in 2013 as vice president of finance and corporate controller; he was previously chief financial officer of Xerox ( XRX ).
Apple didn’t respond to a request for comment on the sales.
David Rolfe, chief investment officer of asset-management firm Wedgewood Partners, says, “With Wall Street, sentiment used to be that Apple was rotten to the core, but the pie is getting bigger here.”
In an interview with Barrons.com, Rolfe adds, “In EMERGING MARKETS, a lot of people’s very first exposure to technology isn’t a desktop or laptop, or even a tablet. It’s a smartphone. Apple has had to change production because demand for the iPhone 6 Plus is more than they thought and demand is coming from international emerging markets.”
Rolfe manages RiverPark/Wedgewood Retail FUND, which holds 1,279,000 Apple shares, 6.75% of the portfolio’s dollar value and the fund’s third-largest holding. Rolfe recently trimmed the fund’s Apple position for weighting reasons, not a surprising move considering the gains THE STOCK has been logging.
On Nov. 3, shares TRADED to a high of $110.30, a record when adjusted for dividends and STOCK splits. Apple closed at $108.86 on Wednesday.
Asif Suria, founder of INSIDER TRADE Reports, writes in an e-mail, “Considering the big increase in stock price over the last two years, it is not surprising to see insiders take some money off the table.”
Jonathan Moreland, director of research for InsiderInsights.com, adds, “Insider selling, no matter how serious it looks, has not panned out as a negative stock indicator when a company has done as well as Apple has.”
Apple was featured in Inside Scoop on Sept. 24 when five insiders, including Chief Executive Timothy D. Cook, sold 1,411,337 shares for $142,764,945, an average of $101.16 each
Here’s a rundown of insider TRADING activity reported on November 5. An insider is any officer, director or owner of 10% or more of a class of the company’s securities. The table shows purchases and sales which must be reported to the SEC and other regulators by the 10th of the month following the month of the trade, includes both open-market and private transactions involving direct and indirect holdings. Excludes stock valued at less that $2 per share, acquisitions through options and companies being acquired. Included are purchases, sales and stock registered for sale for individual officers, companies, and sectors.
AC-member of the advisory committee. AF-affiliated person. AI-affiliate of INVESTMENT ADVISOR. AV-assistant vice president. B-beneficial owner of more than 10% of a security class. BC-beneficial owner as custodian. BT-beneficial owner as trustee. C-controller. CB-chairman. CC-member of the compensation committee. CEO-chief executive officer. CFO-chief financial officer. CI-chief investment officer. CO-chief operating officer. CP-controlling person. CT-chief technology officer. D-director. DO-director and beneficial owner. DS-indirect shareholder. EC-member of the executive committee. EVP-executive vice president. F-founder. FC-member of the finance committee. FO-former. GC-general counsel. GM-general manager. GP-general partner. H-officer, director and beneficial owner. I-indirect transaction filed through a trust, insider spouse, minor child or other. IA-investment advisor. LP-limited partner. M-managing partner. MC-member of committee or advisory board. MD-managing director. O-officer. OB-officer and beneficial owner. OD-officer and director. OE-other executive. OP-officer of parent company. OS-officer of subsidiary company. OT-officer and treasurer. OX-divisional officer. P-president. R-retired. S-secretary. SC-member of the science/technology committee. SH-shareholder. SVP-senior vice president. T-trustee. TR-treasurer. UT-unknown. VC-vice chairman. VP-vice president. VT-voting trustee. X-deceased.
Eddy Cue, senior vice president of Internet software and services, sold 261,935 Apple (ticker: AAPL ) shares that were held indirectly for $27,970,743. His most recent previous transaction was on Aug. 26, 2013, when he sold 172,100 shares for $12,400,000, an average of $72.03 each. Cue owns 22,229 Apple shares through a trust.
Joining him was Chief FINANCIAL Officer Luca Maestri, who sold his entire direct stake of 6,116 shares for $624,523 through a 10b5-1 planned sale. His most recent previous transaction was on Sept. 10 when he sold 12,300 shares for $1,200,000, an average of $99.79 each, also through a planned sale.
Cue’s career at Apple spans 25 years. He currently oversees the iTunes Store, the APP STORE and the iBookstore, as well as Siri, Maps, iAd and Apple’s iCloud services. Maestri joined Apple in 2013 as vice president of finance and corporate controller; he was previously chief financial officer of Xerox ( XRX ).
Apple didn’t respond to a request for comment on the sales.
David Rolfe, chief investment officer of asset-management firm Wedgewood Partners, says, “With Wall Street, sentiment used to be that Apple was rotten to the core, but the pie is getting bigger here.”
In an interview with Barrons.com, Rolfe adds, “In EMERGING MARKETS, a lot of people’s very first exposure to technology isn’t a desktop or laptop, or even a tablet. It’s a smartphone. Apple has had to change production because demand for the iPhone 6 Plus is more than they thought and demand is coming from international emerging markets.”
Rolfe manages RiverPark/Wedgewood Retail FUND, which holds 1,279,000 Apple shares, 6.75% of the portfolio’s dollar value and the fund’s third-largest holding. Rolfe recently trimmed the fund’s Apple position for weighting reasons, not a surprising move considering the gains THE STOCK has been logging.
On Nov. 3, shares TRADED to a high of $110.30, a record when adjusted for dividends and STOCK splits. Apple closed at $108.86 on Wednesday.
Asif Suria, founder of INSIDER TRADE Reports, writes in an e-mail, “Considering the big increase in stock price over the last two years, it is not surprising to see insiders take some money off the table.”
Jonathan Moreland, director of research for InsiderInsights.com, adds, “Insider selling, no matter how serious it looks, has not panned out as a negative stock indicator when a company has done as well as Apple has.”
Apple was featured in Inside Scoop on Sept. 24 when five insiders, including Chief Executive Timothy D. Cook, sold 1,411,337 shares for $142,764,945, an average of $101.16 each
Here’s a rundown of insider TRADING activity reported on November 5. An insider is any officer, director or owner of 10% or more of a class of the company’s securities. The table shows purchases and sales which must be reported to the SEC and other regulators by the 10th of the month following the month of the trade, includes both open-market and private transactions involving direct and indirect holdings. Excludes stock valued at less that $2 per share, acquisitions through options and companies being acquired. Included are purchases, sales and stock registered for sale for individual officers, companies, and sectors.
AC-member of the advisory committee. AF-affiliated person. AI-affiliate of INVESTMENT ADVISOR. AV-assistant vice president. B-beneficial owner of more than 10% of a security class. BC-beneficial owner as custodian. BT-beneficial owner as trustee. C-controller. CB-chairman. CC-member of the compensation committee. CEO-chief executive officer. CFO-chief financial officer. CI-chief investment officer. CO-chief operating officer. CP-controlling person. CT-chief technology officer. D-director. DO-director and beneficial owner. DS-indirect shareholder. EC-member of the executive committee. EVP-executive vice president. F-founder. FC-member of the finance committee. FO-former. GC-general counsel. GM-general manager. GP-general partner. H-officer, director and beneficial owner. I-indirect transaction filed through a trust, insider spouse, minor child or other. IA-investment advisor. LP-limited partner. M-managing partner. MC-member of committee or advisory board. MD-managing director. O-officer. OB-officer and beneficial owner. OD-officer and director. OE-other executive. OP-officer of parent company. OS-officer of subsidiary company. OT-officer and treasurer. OX-divisional officer. P-president. R-retired. S-secretary. SC-member of the science/technology committee. SH-shareholder. SVP-senior vice president. T-trustee. TR-treasurer. UT-unknown. VC-vice chairman. VP-vice president. VT-voting trustee. X-deceased.
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