Insiders at Taleo (TLEO) selling like crazy
The leadership team at Taleo must not like their chances of the company’s stock price going any higher. Since the beginning of 2011, they have executed 22 sales worth $6.3M.
In the company’s latest reported first quarter, sales increased approximately 30% to $71.5 million from $55.0 million in the first quarter of last year.
Shares are trading just 2 points below their 52 week range.
Mastery Bottom Line:
When your principal accounting officer starts offloading shares just a week before they are scheduled to release their Q2 earnings report, you know something is up.
It seems Taleo shares are a bit overvalued at this point. If you’re in to options trading, take a look at the September 17th $35 put contracts, currently trading at $2.30
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