What would be a good entry price for this? Thanks!
It is not great news, and the numbers are fairly big. But there may be explanations. We tend to worry less about insider sales in the first quarter of the year. There are lots of tax issues and portfolio planning reasons to sell. Two, if we put ourselves in executives' shoes for a second...we just had a 300%, $100 million windfall in the past year, with the stock up so much. Then we saw a 28% single day decline last week. That would be enough to shake anyone out of a few shares, we think. As noted, the dollar value of the remaining shares is still higher than it was a year ago. Prior to recent activity, insiders were actually (small) net buyers of the stock within the last six months. We would not like to see more sales here, but can live with those as reported so far. We would be OK stepping in at around $185 if this news creates more selling pressure.