This is definitely not a good sign, but there could be a variety of reasons why he is selling. There are lots of reasons why insiders sell stock, it doesn't necessarily mean he's got no faith in the company. And it doesn't necessarily mean he plans on selling every share he owns either.
I still think this stock has way more room to advance up again.
"Two things are infinite, the universe and human stupidity, and I'm not sure about the universe." - Albert Einstein.