President & CEO of Abovenet Inc. (ABVT) William G Laperch sells 1,600 shares of ABVT on 11/11/2009 at an average price of $54.08 a share.

AboveNet, Inc., together with its subsidiaries, provides bandwidth, fiber optic communications infrastructure, and co-location services to communications carriers, and corporate and government customers, primarily in the United States and the United Kingdom. Its private optical network delivers key network and IP services in and among 15 major U.S. metro markets and London. AboveNet's network is widely used in demanding markets such as financial services, media, health care, retail and government. The Company provides lit broadband services over its metro networks, long haul network and global IP network utilizing equipment that it owns and operates. In addition, it also provides dark fiber services to customers. Formerly known as Metromedia Fiber Network, Inc., the company is based in White Plains, New York with an additional office in London, the United Kingdom. Abovenet Inc. has a market cap of $1.23 billion; its shares were traded at around $53.18 with a P/E ratio of 9.7 and P/S ratio of 3.8.

Insiders' Positions with ABVT

• Sell:: President & CEO William G Laperch sold 16,206 shares of ABVT stock on 08/31/2009 at the average price of 46.35, the price of the stock has increased by 14.74% since


• Sell:: President & CEO William G Laperch sold 38,000 shares of ABVT stock on 08/18/2009 at the average price of 46.66, the price of the stock has increased by 13.97% since

Insiders' Positions with ABVT

• Sell:: SVP of Sales and Marketing John Jacquay sold 11,992 shares of ABVT stock on 10/14/2009 at the average price of 50.02, the price of the stock has increased by 6.32% since


• Sell:: SVP & Chief Technology Officer Rajiv Datta sold 25,100 shares of ABVT stock on 08/26/2009 at the average price of 47.51, the price of the stock has increased by 11.93% since


• Sell:: Director Richard L Shorten sold 8,800 shares of ABVT stock on 08/26/2009 at the average price of 47.45, the price of the stock has increased by 12.08% since


• Sell:: SVP of Operations Douglas Jendras sold 14,000 shares of ABVT stock on 08/24/2009 at the average price of 47.01, the price of the stock has increased by 13.12% since


• Sell:: SVP of Operations Douglas Jendras sold 14,000 shares of ABVT stock on 08/24/2009 at the average price of 47.01, the price of the stock has increased by 13.12% since

Why CEOs Are Buying Stocks Of Their Own Companies?

1. As legendary investor Peter Lynch said: "Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise."
2. TOP EXECUTIVES like CEOs and CFOs are savvy buyers of their companies' shares. One long-term study showed that they beat the market on average by six percentage points a year.
3. Another study found that the aggregated activities of insiders can serve as a good indicator to locate market bottoms. Insiders as a whole are smart investors of their own companies.

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