Barry Rosenstein has been very lucky this year. Right after he initiated a huge position in Barnes & Noble (BKS), Microsoft granted a $300 million lifeline to failing book seller. As soon as the news was announced on Monday, BKS shares shot up. The stock reached an intraday high of $26 on Monday and closed at $20.75. Guess what else happened on Monday. Barry Rosenstein sold 1 million shares at an average price of $24.42. He should have sold more. Jana Partners still owns nearly 6 million shares in BKS.

Since then, the shares have been declining. Right now, BKS shares are trading at $18 per share. Barnes & Noble's Corporate Controller Allen Lindstrom wasn't as quick as Barry Rosenstein. He sold nearly 11000 shares the next day at an average price of $19.8.