Compaq insiders take profits
Inside profit-takers sold nearly 200,000 shares in Compaq in May, according to documents just filed.
Most of the eight Compaq officers and directors who filed today either sold all or most of their shares from options they exercised. Together, they sold 168,236 shares during the latest window that allows insiders to trade.
From April 22 to May 30, a dozen insiders had registered to either sell or document the sale of roughly 405,000 shares, with prices ranging from $75 to $107 a share, said Bob Gabele, editor of the Insiders Chronicle.
"We've seen this high volume before," Gabele said. "It looks more like profit-taking because you don't see selling across the sector yet. Investors may want to also think about doing the same."
Compaq's stock was trading around $75 a share in late April but has since rocketed to close at nearly $104 today.
Gabele noted that chairman Benjamin Rosen has indicated his intent to sell 160,131 shares, accounting for more than half the shares earmarked for sale by insiders.
Meanwhile, of the insiders who registered the sale of their shares, Gregory Petsch, a senior vice president, had the largest volume, with 55,468.