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 Insider was one of the first to spot the insider sales.
David Einhorn's Greenlight Capital funds were up 11.9% for 2021, compared to the S&P 500's 28.7% return. Since its inception in May 1996, Greenlight has returned 1,882.6% cumulatively and 12.3% net on an annualized basis. Q4 2021 hedge fund letters, conferences and more The fund was up 18.6% for the fourth quarter, with almost all Read More
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.
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.