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Short Take: Cisco's Chambers sells $87 million in stock

Cisco Systems chief John Chambers has filed to sell 850,000 shares of the company's stock worth more than $87 million, according to documents filed with the federal Securities and Exchange Commission. The sale represents about 22.6 percent of Chambers' total holdings of more than 3.7 million shares of Cisco. The company's stock has fallen back from record highs, reached earlier this month.

Cisco Systems chief John Chambers has filed to sell 850,000 shares of the company's stock worth more than $87 million, according to documents filed with the federal Securities and Exchange Commission. The sale represents about 22.6 percent of Chambers' total holdings of more than 3.7 million shares of Cisco. The company's stock has fallen back from record highs, reached earlier this month.