Apple Inc. Insiders Schiller, Riccio Sell Millions In Shares

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Regulatory filings indicate that a couple of insiders at Apple Inc. (NASDAQ:AAPL) have sold shares of their company worth millions of dollars. The total value of the shares sold between the two of them amounted to more than $20.4 million.

Apple Inc. Insiders Schiller, Riccio Sell Millions In Shares

Apple Insider was one of the first to spot the insider sales.

Apple’s Schiller sells $18.6M, Riccio sells $1.9M

The filing with the Securities and Exchange Commission shows that Senior Vice President of Worldwide Marketing Phil Schiller sold off $18.59 million in Apple Inc. (NASDAQ:AAPL) shares. That trade happened on Wednesday. Hardware and Engineering Senior Vice President Dan Riccio sold $1.88 million in Apple shares on the same day.

Schiller’s sale amounted to 36,172 shares of common stock at a value of $500. Riccio sold 3,754 shares through 11 different trades ranging from prices between $498 and $502 per share.

Other Apple insiders sell shares

A little over two weeks ago, board members William Campbell and Millard Drexler also sold off some Apple Inc. (NASDAQ:AAPL) shares. Their sales were worth over $19 million and happened the week of August 1. Drexler raked in over $14.6 million on his share sale after selling 32,562 shares in various trades ranging from $448 to $449. Campbell sold 10,000 shares in two sales adding up to $4.4 million at prices of $440 and $441 per share.

Chief Financial Officer Peter Oppenheimer sold $16.4 million worth of Apple Inc. (NASDAQ:AAPL) shares not long after the company’s last earnings report.

Signs of recovery at Apple

Shares of Apple Inc. (NASDAQ:AAPL) have been climbing on various bits of news lately. First there was the earnings report that wasn’t as bad as expected, and then Carl Icahn announced that he took a significant stake in the company. And then there is excitement leading up to the unveiling of the next iPhone, which is expected to be on Sept. 10.

Apple Inc. (NASDAQ:AAPL) shares passed their 200 day moving average and topped $500 per share this week, where they remained at the close of trading on Friday.

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