Insiders of the “Big Seven US Stocks” are following in the footsteps of Jeff Bezos and Mark Zuckerberg and are selling off company shares one after another. According to the latest data, nearly 12 executives and directors of these companies recently sold more than $160 million worth of shares.
Take Alphabet CEO Sundar Pichai as an example. He sold more shares of Google's parent company this year than the whole of 2023. Just this month, he cashed out $30 million from nearly 20 transactions. Since the beginning of last year, Alphabet's stock price has risen by more than 90%.
Furthermore,$NVIDIA (NVDA.US)$Director Mark Perry has sold more shares so far this year than in the previous two years.$Apple (AAPL.US)$The company's chairman, Arthur Levinson, also applied to sell shares in February, setting its highest scale record in more than 20 years.
There are also executives who are selling stocks for the first time. Alphabet President Ruth Porat cashed out about $6.6 million in earnings in March this year. This was her first sale since she joined the company in 2015. Previously, she worked at Morgan Stanley for over 20 years.
These moves highlight that Silicon Valley insiders are monetizing their holdings after tech stocks bounced back from a sharp decline caused by accelerated inflation and interest rate hikes in 2022. Nvidia is the best-performing “Big 7 US Stock Company” this year, and its stock price has risen 83% this year.
Lloyd Greif, founder of Los Angeles Investment Bank Greif & Co, said, “They all understand that pigs are getting fat, they should kill them. No one can tell exactly when the stock market will peak, but now it looks like there must be a bubble.”
Since the beginning of last year, including$Amazon (AMZN.US)$,$Microsoft (MSFT.US)$,$Meta Platforms (META.US)$und$Tesla (TSLA.US)$The share prices of the “Big Seven US stocks” have risen by nearly 150%, partly because investors are interested in any stock that provides AI exposure.
The biggest winner was Amazon founder Bezos, who sold around $8.5 billion of shares in less than two weeks in February, his first sale since 2021.
Zuckerberg's trust fund, as well as his charitable and political donation entities, began selling shares through a trading plan in November of last year. Since then, they have applied to sell more than $1 billion worth of shares.
A representative of Zuckerberg said in this regard that he mainly sells shares through trading plans to fund his and his wife's charitable causes.
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