Boston, MA 09/16/2014 (wallstreetpr) – Provider of intelligent motion processing solution, InvenSense Inc (NYSE:INVN) Independent Director, Timothy Wilson, has divested his indirect holding in the company completely on Monday. The Independent Director appears to have taken advantage of the prevailing price, which is approximately $3.5 short of the yearly high price.
Sells Entire Holding
The InvenSense Inc (NYSE:INVN)’s Director has sold 38,808 shares on September 15 at the rate of $23.07 a share, a Form 4 filed with the Securities and Exchange Commission on September 15 indicated. He has realized an amount of $895,405 from the sale of his indirect holding. As a result of the current sale, Wilson’s indirect holding has become nil.
The selling price indicated that the Independent Director has sold his indirect holding at a discount of 12.4% compared to the one-year high price of $26.78. However, based on the 52-week low price of $15.2, he has realized a premium of 51.8%. Wilson’s selling move comes at a time when the consensus among the Street analysts’ was in favor of a Sell rating of the InvenSense Inc (NYSE:INVN) shares.
In the current month of September, the InvenSense Inc (NYSE:INVN)’s Vice President for Engineering and New Product Development, Stephen Lloyd, has resorted to an automatic selling of 10,833 shares at the rate of $24.21 a share and exercised the option to buy the same quantity of shares at a cost of $7.32 a share, as per Nasdaq data.
One-Year Insider Activities
In the last three months, there were twelve transactions of insider trading activities, and all belonged to selling of shares only. As a result, there was a net selling activity of 199,119 shares by the insiders during the last three-month period.
Similarly, in the one-year period, there were forty-nine transactions of insider activities and everything related to selling of shares. There was no trading on buying of shares in the last 52-week period. This resulted in a net selling of 2.53 million shares during the one-year period. The selling activities by the insiders only indicate that they were trying to take advantage of the higher price to realize good money and that there is little room for any significant appreciation of the stock.
