UPDATED: 01.26.13 @ 10 AM CST — So this insider’s open market sale was closed at about 28 per cent above where the stock averaged out — after disclosure by Mr. Conway of a slowdown in bookings, in Q3 2012. It is hard to imagine that as CEO, he did not know he hadn’t signed many new bookings — within a few days of the end of Q3 2012. [End, updated portion.]
Recall that he sold with fewer than ten trading days left in the quarter, and into the open NASDAQ market. That means an outsider bought those shares — presumably someone with less information than the CEO of a public company, in the process of closing out the quarterly results, would have.
It the price stays near here — these are what plaintiffs’ side securities litigators call the proverbial footprints “footprints in the snow“.
Do stay tuned, for Q3 results in about a month.