from cnn tonite:
lol
tight lines
malko
Tech insiders taking profits
Michael Dell and Steve Ballmer are selling. What should the average investor do?
June 2, 2003: 5:00 PM EDT
By Paul R. La Monica, CNN/Money Senior Writer
NEW YORK (CNN/Money) - Michael Dell and Steve Ballmer each has taken some money off the tech table. Should you?
The CEOs of Dell Computer and Microsoft (MSFT: Research, Estimates) made headlines in the past two weeks for selling rather large portions of stock. Dell has sold 10 million shares worth about $300 million. Ballmer has sold about 60 million shares for $1.5 billion.
To be sure, the two CEOs still own a substantial amount of stock in their companies. And such sales aren't necessarily a sign of impending doom.
Lon Gerber, director of insider research for Thomson Financial, says that such big sales are usually a matter of diversification and not a good predictor of stock performance.
Time to trim?
But the Nasdaq is up more 27 percent since March 11. And one research firm that closely follows insider transactions said that more tech insiders have been selling during the rally and that the average investor should lock in some gains if possible as well.
Michael Painchaud, director of research and principal of Market Profile Theorems, said that based on a recent pickup in insider sales, he is recommending a "neutral" rating on the tech sector for the first time since last July.
Tech sell-off
The following five tech execs have taken advantage of the sector's rally.
Company
Insider Name (Title)
Date of sale(s)
# of shares sold
Selling price range
Microsoft
Steve Ballmer (CEO)
5/21-5/30
59.9 million
$23.89-$24.90
Dell Computer
Michael Dell (Chairman & CEO)
5/22-5/27
10 million
$29.56-$30.01
Cisco Systems
Larry Carter (Former CFO)
5/22
625,000
$15.98
Priceline.com
Richard Braddock (Director and former CEO)
5/5-5/6
1 million
$3.16-$3.17
Network Appliance
Daniel Warmenhoven (CEO)
5/23
100,000
$15.2
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