Stocks
Apple SVP Jennifer Newstead Unloads $456k Worth of Company Stock
Apple SVP Jennifer Newstead has sold $456,176 worth of company stock. According to recent filings, she sold 1,438 shares on September 8 at a price of $317.23 each.
The sale brings Newstead's total ownership in Apple down to 34,352 shares. The transaction was made under a Rule 10b5-1 trading plan that she adopted on May 5.
This comes as Apple shares trade near their 52-week high of $344.57 and have delivered a 42% return over the past year. However, InvestingPro analysis suggests that the stock may be overvalued relative to its fair value estimate.