logo  
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

Executives Sell Off Apple as Investors (and a Billionaire) Buy In

  +Follow August 19, 2013 10:40AM
Share:
Tickers Mentioned:

Apple, Inc. (AAPL) has come a long way since hitting a 52-weeek low of $388.87 a share on June 29 amid a massive sell-off. The stock has surged over the last month, and from Aug. 12 to Aug. 17 gained over 10 percent. Apple has been propelled both by impressive iPhone sales in the second quarter of 2013 and influential investor Carl Icahn sinking a reported $1.5 billion into the company, calling the tech giant “extremely undervalued.”

Yet at the same time Icahn is doubling down on the company, major executives at Apple are cashing out. According to a filing with the Securities and Exchange Commission, between Aug. 16 and Aug. 18, Senior Vice Presidents Dan Riccio and Phil Scheller respectively sold $1.9 million and $18.6 million worth of shares of the company.

They're not the only ones either. On July 29, Apple directors Bill Campbell and Millard Drexler cashed out for a combined $13.8 million, and on June 24, Senior Vice Presidents Bruce Sewell and Jeff Williams cashed out for around $15 million apiece.

It should be noted though, that these executives made clear their intentions to sell months prior, while Apple’s stock was lagging. The SEC requires higher-up execs to notify of intention to sell far in advance in order to preclude the possibility of insider trading. Also, the combined value of these stock sales is dwarfed by Icahn’s recent investment. Since he first tweeted his buy-in on Aug. 13, Icahn's investment has gained an estimated $150 million in value. 

While Icahn’s stake in the company is sizable, it still equals less than a percent of the company’s present value. Apple is flying so high they have comfortably regained their position as the most valuable company in the world. The company is now worth $466.33 billion, more than $70 billion ahead of the number two company ExxonMobil Corporation (XOM) . Apple surpassed Exxon on Aug. 1.

Though Apple is still down 18.58 percent on the year, they’re up 1.93 percent on the day to hit $511.99 a share.   

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


Signup for our daily newsletter and get our best articles emailed right to you!

Results for aapl
Christopher
21 Nov 14 08:14:15
RT @philstockworld: Why $AAPL is still in the Running for Our 2015 Trade of the Year: #Apple #Japan $EWJ $QQQ #OptionStrategies -- http://t…
Clearinghouse CDFI
21 Nov 14 08:13:46
RT @philstockworld: Why $AAPL is still in the Running for Our 2015 Trade of the Year: #Apple #Japan $EWJ $QQQ #OptionStrategies -- http://t…
MobileLearn
21 Nov 14 08:12:31
RT @philstockworld: Why $AAPL is still in the Running for Our 2015 Trade of the Year: #Apple #Japan $EWJ $QQQ #OptionStrategies -- http://t…
Days of
21 Nov 14 08:11:38
RT @philstockworld: Why $AAPL is still in the Running for Our 2015 Trade of the Year: #Apple #Japan $EWJ $QQQ #OptionStrategies -- http://t…
Katie Yeager
21 Nov 14 08:11:34
RT @philstockworld: Why $AAPL is still in the Running for Our 2015 Trade of the Year: #Apple #Japan $EWJ $QQQ #OptionStrategies -- http://t…
ResidentialNYC.com
21 Nov 14 08:11:17
RT @philstockworld: Why $AAPL is still in the Running for Our 2015 Trade of the Year: #Apple #Japan $EWJ $QQQ #OptionStrategies -- http://t…
MacHash
21 Nov 14 08:10:32
http://t.co/wCvxKWkMFc has launched Apple Pay Integration http://t.co/YRGlRUYqdO #PatentlyApple $AAPL
BUZZ Just-In
21 Nov 14 08:10:19
Access curated tweets- high relevancy, less spam- US Tech Giants http://t.co/9eY6Vonn4o $MSFT $TWTR $AAPL $FB $GOOG
Media Sentiment
21 Nov 14 08:09:54
$AAPL received a new alert. Find out why at http://t.co/5lwmDm2SCs #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 218
Logos LP
21 Nov 14 08:09:43
RT @valuewalk: Alibaba Group (BABA) - Top New Stakr For Hedge Funds http://t.co/wtJ6TwUX2y $BABA $AAPL $MNK $SHPG $EBAY http://t.co/xwPUjRh…
BuckarooTrades
21 Nov 14 08:09:15
$AAPL sold 117p @ 1.00 from 0.25 for 300% $NFLX sold 362.5p @ 1.86 from 0.88 for 100%
Mark Rosenbaum
21 Nov 14 08:07:47
RT @philstockworld: Why $AAPL is still in the Running for Our 2015 Trade of the Year: #Apple #Japan $EWJ $QQQ #OptionStrategies -- http://t…
smtrader StockTrader
21 Nov 14 08:07:43
lot of stk & indices are making LOD $AAPL $SPY
CBOE TV
21 Nov 14 08:07:20
In the Money: @AngieMiles on $GPS, $AMZN, $HTZ, $BID, $AAPL and trader Al Sherbin on $DG, $HPQ, and $NUAN. http://t.co/bcCjVMXgUO
Anthony Allyn
21 Nov 14 08:07:14
All sectors seen to be selling off about equally. $AAPL craps the bed lol
SMB Capital
21 Nov 14 08:06:48
Some stocks our guys are trading: $AAPL $BABA $HABT $CANF $EHIC http://t.co/J29f2yu9gV
Sonny Rico
21 Nov 14 08:06:37
@zerohedge $AAPL going red. Call Kevin!
Fredrik Eliasson
21 Nov 14 08:06:29
“No, You Can’t Manufacture That Like Apple Does” — Medium #production #scale #economics $AAPL https://t.co/7g7YlURQ4T
jedimarkus
21 Nov 14 08:06:22
$AAPL in the red. #EMERGENCYFEDMEETING #DRAGHICATERING
Demetra Denial
21 Nov 14 08:05:57
Could be breaktout time on $FRT $DRE $SLH $AAPL #financial http://t.co/TJpYWprG30
Sang Lucci
21 Nov 14 08:05:50
$MA went negative dude... Lotta names filled the gap the biggest being $AAPL
Agnieszka Wood
21 Nov 14 08:05:42
Let them all flush with the rain! $SPLK $BABA $AAPL
Ashley
21 Nov 14 08:05:30
RT @philstockworld: Why $AAPL is still in the Running for Our 2015 Trade of the Year: #Apple #Japan $EWJ $QQQ #OptionStrategies -- http://t…
May Vanburen
21 Nov 14 08:05:15
Top #Stocks today. Find out why. $MDRX $AZO $MCSA $AAPL #wallstreet http://t.co/qjfes5y2zY
Woodsong
21 Nov 14 08:05:13
RT @philstockworld: Why $AAPL is still in the Running for Our 2015 Trade of the Year: #Apple #Japan $EWJ $QQQ #OptionStrategies -- http://t…
Brett and the City
21 Nov 14 08:04:31
RT @philstockworld: Why $AAPL is still in the Running for Our 2015 Trade of the Year: #Apple #Japan $EWJ $QQQ #OptionStrategies -- http://t…
Andrew Rose
21 Nov 14 08:03:46
RT @philstockworld: Why $AAPL is still in the Running for Our 2015 Trade of the Year: #Apple #Japan $EWJ $QQQ #OptionStrategies -- http://t…
Dylan H
21 Nov 14 08:03:34
RT @philstockworld: Why $AAPL is still in the Running for Our 2015 Trade of the Year: #Apple #Japan $EWJ $QQQ #OptionStrategies -- http://t…
Will Rabbe
21 Nov 14 08:03:31
#apple's new highs - it's broken the pre-spit threshold of $800 a share. $aapl x 7.
Michael J Noesen
21 Nov 14 08:03:19
RT @philstockworld: Why $AAPL is still in the Running for Our 2015 Trade of the Year: #Apple #Japan $EWJ $QQQ #OptionStrategies -- http://t…
dmackdaddy
21 Nov 14 08:02:47
iPhone 6, 6 Plus shipment times drop to 7 to 10 days, 6 Plus at 1 to 2 weeks http://t.co/a1jfgQnpZZ $AAPL
Underbriefs
21 Nov 14 08:02:19
RT @philstockworld: Why $AAPL is still in the Running for Our 2015 Trade of the Year: #Apple #Japan $EWJ $QQQ #OptionStrategies -- http://t…
David
21 Nov 14 08:01:24
RT @philstockworld: Why $AAPL is still in the Running for Our 2015 Trade of the Year: #Apple #Japan $EWJ $QQQ #OptionStrategies -- http://t…
Bertha Coombs
21 Nov 14 08:01:22
@DougKass Don't look now, but #Apple is seesawing around unchanged, but in the process notches fresh all-time high $117.57. $AAPL
strategynode
21 Nov 14 08:01:06
RT @philstockworld: Why $AAPL is still in the Running for Our 2015 Trade of the Year: #Apple #Japan $EWJ $QQQ #OptionStrategies -- http://t…
The Legacy News
21 Nov 14 08:00:53
Apple PT Raised to $120.00 $AAPL http://t.co/jLCAX0ImSZ
AAPL Stock Alerts
21 Nov 14 08:00:03
Apple Approaches Price Target Too Quickly http://t.co/ZloZURa2k8 $AAPL
UncleCarlsShoe
21 Nov 14 07:59:26
RT @ACInvestorBlog: $RUBI tic toc tic toc.... $15 and booom !! $AAPL deal is huge for this small cap
Flinn
21 Nov 14 07:59:25
RT @philstockworld: Why $AAPL is still in the Running for Our 2015 Trade of the Year: #Apple #Japan $EWJ $QQQ #OptionStrategies -- http://t…
Fake CNBC
21 Nov 14 07:59:00
Rolled into some Dec $120 puts in $AAPL for $5.
Lyssa Phifer,
21 Nov 14 07:58:40
RT @philstockworld: Why $AAPL is still in the Running for Our 2015 Trade of the Year: #Apple #Japan $EWJ $QQQ #OptionStrategies -- http://t…
Antonio Costa
21 Nov 14 07:58:07
$RUBI tic toc tic toc.... $15 and booom !! $AAPL deal is huge for this small cap
ValueWalk
21 Nov 14 07:57:46
Alibaba Group (BABA) - Top New Stakr For Hedge Funds http://t.co/wtJ6TwUX2y $BABA $AAPL $MNK $SHPG $EBAY http://t.co/xwPUjRhGIM
Internet Marketer
21 Nov 14 07:57:35
RT @philstockworld: Why $AAPL is still in the Running for Our 2015 Trade of the Year: #Apple #Japan $EWJ $QQQ #OptionStrategies -- http://t…
Adrian Green
21 Nov 14 07:57:02
RT @philstockworld: Why $AAPL is still in the Running for Our 2015 Trade of the Year: #Apple #Japan $EWJ $QQQ #OptionStrategies -- http://t…
Ali Lawrence
21 Nov 14 07:56:35
Couple of Stocks you should Watch $GEF $AAPL $CPWR $CADX #singedinvestor http://t.co/OgDTFoVDBA
AvatarDigi
21 Nov 14 07:56:12
RT @philstockworld: Why $AAPL is still in the Running for Our 2015 Trade of the Year: #Apple #Japan $EWJ $QQQ #OptionStrategies -- http://t…
3D Film
21 Nov 14 07:56:03
RT @philstockworld: Why $AAPL is still in the Running for Our 2015 Trade of the Year: #Apple #Japan $EWJ $QQQ #OptionStrategies -- http://t…
DailyStockPicks
21 Nov 14 07:54:42
Cynapsus Therapeutics $CYNAF $CTH.V is up 40% this week after Phase 2 Study results. $2.75 target http://t.co/5Vy1M3qBcv $AAPL $PCLN $GILD
Bart Savage
21 Nov 14 07:54:38
$baba and $aapl going limp
				
				
  +Follow August 19, 2013 10:40AM
Share:

Comments

 

blog comments powered by Disqus

About us

Equities.com is the most advanced interactive online social ecosystem for the financial industry, serving as a resource center and next-generation communication platform that connects self-directed investors with public issuers, market experts, and professional service providers and vendors. Registered members can leverage our exclusive proprietary research tools such as the Small-Cap Stars, which outperformed 90% of all small-cap mutual funds, and robust do-it-yourself E.V.A. research reports. The Equities.com Issuer Dashboard is the ideal tool to communicate and manage investor awareness campaigns to the investment community, as well as to access valuable resources to help your company grow.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.