On October 9, 2023, Luca Maestri, Senior Vice President and Chief Financial Officer of Apple Inc (AAPL, Financial), sold 63,695 shares of the company. This move is part of a trend observed over the past year, where the insider has sold a total of 310,190 shares and purchased none.
Luca Maestri joined Apple in 2013 as vice president of Finance and corporate controller, and has served as CFO since 2014. He oversees the accounting, business support, financial planning and analysis, treasury, M&A, investor relations, internal audit and tax functions at Apple. His experience and position in the company make his stock transactions noteworthy for investors and market watchers.
Apple Inc, founded in 1977, is a multinational technology company that designs, manufactures, and markets smartphones, personal computers, tablets, wearables and accessories, and sells a variety of related services. The company's products include iPhone, Mac, iPad, and Wearables, Home and Accessories. Apple's services include Advertising, AppleCare, Cloud Services, Digital Content, and Payment Services. Apple's popularity and market presence make it a significant player in the tech industry.
The insider's recent sell-off is part of a broader trend within Apple Inc. Over the past year, there have been 17 insider sells and no insider buys. This trend can be visualized in the following chart:
On the day of the insider's recent sell, Apple Inc's shares were trading at $178.29, giving the company a market cap of $2,788.99 billion. The price-earnings ratio stands at 29.98, higher than both the industry median of 21.49 and the company's historical median. This suggests that the stock is currently trading at a premium.
The GuruFocus Value for Apple Inc is $176.59, resulting in a price-to-GF-Value ratio of 1.01. This indicates that the stock is fairly valued. The GF Value is an intrinsic value estimate that takes into account historical multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
The insider's decision to sell shares could be influenced by a variety of factors. It could be a personal financial decision or based on the insider's perception of the company's current valuation. However, it's important for investors to consider the broader market trends and company fundamentals before making investment decisions.
Despite the insider's sell-off, Apple Inc remains a strong player in the tech industry with a robust product portfolio and a solid financial position. Investors should keep a close eye on the company's performance and any future insider transactions.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.