After Warren Buffett revealed that he slashed his position in Apple (NASDAQ: AAPL) by almost 50%, concerns among investors began to emerge about the performance of the iPhone maker and whether the insiders believed enough in the Cupertino-based giant.
Their concerns aren’t going to be alleviated by the most recent insider trade on August 5, which saw Apple’s General Counsel Katherine Adams selling 100,000 AAPL shares at an average price of $206.44 for a total value of $20,643,512.
Adams already sold AAPL stock in 2024
General Counsel’s most recent sale was not the only one she conducted in 2024; notably, on April 2, she offloaded $9,244,235 worth of Apple stock by selling 54,732 shares at an average price of $168.9 per share.
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Apple still receives confidence from its insiders
Despite Adams’s recent sale, Apple stock is one of the least sold among the members of the “Magnificent Seven,” with only nine sales so far in 2024.
These sales come compared to zero buys over the same period, with a total worth of $64,659,392 in AAPL shares sold.
Apple stock price chart
After recently trading in the green, Apple stock’s most recent trading sessions have been quite volatile, reflecting a broader stock market performance.
On the most recent trading day, AAPL stock gained 1.25%, closing at $209.82. These gains follow a series of negative performances over the past five trading sessions, during which Apple stock fell by 6.46%.
Over the last month, AAPL stock recorded a decline of 7.90%.
Considering the overall performance of AAPL stock in 2024, Adam’s sales were probably profit-taking oriented, albeit mistimed from the July 15 high of $234.82.
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