Although Apple’s (NASDAQ: AAPL) stock has experienced a low number of insider sales in the previous year, the recent period has been marked by continuous insider sales of its Principal Accounting Officer.
Namely, on August 15, Principal Accounting Officer Chris Kondo sold 8,706 APPL shares worth $1.96 million at an average price of $225 per share, leaving him with 15,419 remaining shares.
Apple stock price chart
As of the latest close on August 19, AAPL stock is trading at $225.89 per share, losing 0.071% of its value in the latest trading session, which counters the gains of 2.99% from the previous five trading days.
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Kondo has been Apple stock’s most active insider in 2024
Looking at the insider trading data provided by Barchart, Kondo stands out as the most active insider seller in 2024 so far, with three separate transactions.
In addition to the latest one, Kondo offloaded AAPL shares on two additional occasions: August 9, when he sold 5,178 shares for over $1.12 million profit, and May 15, when he sold 4,999 shares worth $951,785.
Out of six insider sales this year so far, Principal Accounting Officers account for half, for a total profit of over $4 million.
However, other AAPL insiders raked in the most profit
Compared with Kondo’s $4 million profit from selling Apple stock, Arthur D. Levinson, a member of Apple’s chairboard, has raked in $32.2 million in 2024 from offloading his AAPL holdings.
The largest insider sale was by General Counsel Katherine Adams, who, on August 5, sold $20 million worth of Apple stock.
These three higher executives in the Cupertino giant made all the insider sales of its stock this year, with a combined $56 million profit from sales.
Notably, during the same period, there have been no instances of insider buys of AAPL stock, a trend that correlates with insider activity from other large tech firms in 2024.
Aside from in-house sales, its most famous investor, Warren Buffett, decided to trim nearly 50% of Berkshire Hathaway (NYSE: BRK.A) AAPL stock holdings in Q2, making investors wonder whether this is purely a tax-related sale or if something more is amiss.
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