High Profile Insiders Selling Shares Of These 3 Companies

Royal Caribbean Cruises Ltd (NYSE:RCL) is another company that has seen strong insider selling activity lately. President and Chief Operating Officer Adam M. Goldstein sold a 90,000-share block on Monday at a weighted average price of $98.88. The COO currently holds a direct ownership stake of 253,153 shares. The shares of the cruise company are also trading at an all-time high. However, Royal Caribbean Cruises Ltd (NYSE:RCL)’s might be heading even higher, given that the company announced its plans to repurchase $200 million worth of stock under an accelerated stock repurchase (ASR) plan. This might indirectly hint that the company’s management believes that the stock is still undervalued at the moment. Put differently, there is no reason for the company to repurchase shares via an ASR transaction if it does not anticipate stock price appreciation in the months ahead. Ken Griffin’s Citadel Investment Group was bullish on Royal Caribbean Cruises Ltd (NYSE:RCL) during the second quarter, holding a stake of 1.46 million shares as of June 30.

Last but not least, we will examine the insider selling activity at equity real estate investment trust Prologis Inc. (NYSE:PLD). Gary E. Anderson, Chief Executive Officer of Europe and Asia at Prologis since June 2011, unloaded 11,500 shares on Friday at a price of exactly $43 per share, trimming his stake to 33,043 shares. The shares of Prologis Inc. (NYSE:PLD) have been on a steep uptrend since the beginning of September, advancing by more than 17% since then. The company’s strong third quarter earnings report has also played a minor role in the strong stock performance of Prologis. The REIT reported net earnings per diluted share of $0.49, compared to $0.23 registered in the same quarter a year ago. Therefore, it might simply be the case that the executive decided to take some profits off the table as a result of the recent uptrend. D.E. Shaw & Co. L.P., founded by David E. Shaw, reported owning 1.53 million shares of Prologis Inc. (NYSE:PLD) through its 13F for the second quarter.

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