mlkrborn
13 years ago
Acme Packet CEO unloads $4.7M in stock
Boston Business Journal - by Kyle Alspach
Date: Tuesday, March 29, 2011, 10:14am EDT - Last Modified: Tuesday, March 29, 2011, 10:17am EDT
Related:
Technology
Enlarge Image
Andrew Ory, CEO of Acme Packet
Related News
* Acme Packet ups revenue, outlook
Acme Packet Inc. (Nasdaq: APKT) CEO Andrew Ory added to the recent string of big stock sales by top executives at the company, cashing out nearly $4.7 million worth of shares last Thursday, according to a regulatory filing.
The sale of 70,000 shares through a pre-arranged trading plan came as the stock price hovered in the range of $65 to $68 on that day. Shares in the Bedford, Mass.-based telecommunications equipment firm closed just shy of $70 on Monday.
Ory still owns 4.29 million shares in the company following the sale, according to the filing with the U.S. Securities and Exchange Commission.
In February, Ory also sold 70,000 shares and saw gross proceeds of $4.8 million, while a number of other Acme Packet executives and insiders have sold millions of dollars worth of shares in recent months and over the past year. The company’s proxy statement shows that four top executives at the company realized $17.1 million from exercising stock options in 2010.
Acme Packet owns a 62 percent share of its market, the session border controller market, according to Infonetics Research. The market is growing fast due to the widening use of internet protocol (IP) networks, which are increasingly taking the place of traditional telephone networks and being used to enable mobile technologies.
The company’s profit grew 155 percent in 2010, to $54.5 million, while revenue for the year was $231.2 million, up 63 percent over 2009.
bizWatch
Read more: Acme Packet CEO unloads $4.7M in stock | Boston Business Journal
goofyfoot
17 years ago
Well, it's been over six months since I wrote that. APKT appeared to be broken for a while, lingering even below $10 for a few minutes, I think, one day. But, damn, it came back. Don't know if there's a lot more upside, at this point, but I'm interested in hearing if anyone out there believes in this company, or conversely, really doesn't.
Somebody post something!
goofyfoot
18 years ago
Not_Bill, I'm beginning to understand what you mean by having a setup that you believe in, and from there, having it actually go your way. I've chased a few stocks in the past year, and my gains were never as great as I expected. I suppose this is probably because once my order is filled, at a price higher than I would have liked, I seem to run scared, and protect profits very quickly, even though some of these stocks actually run a bit higher.
Did this on Friday with OPBL. It went up about a dollar in five hours, from $5.70 to $6.70, where I sold it. It went up another 50 cents before the end of the day. That's a strange little stock, and a lot of posters on Yahoo seem to believe that a lot of money from disgruntled NYX sellers were putting their proceeds there, on Friday. Volume was huge. No telling, about tomorrow.
I sold my NYX on Wednesday of last week for a slight loss. Had I waited one more day, I could have lessened this loss by half, but my instinct was correct. Just a day early. Same with Marvell - sold on Thursday, but had I waited till market open on Friday, could have doubled my profit, due to the Broadcom effect. Yet, by the end of the day, MRVL was 30 cents below where I sold it the day before.
I can't figure this market out. I guess you'd call it choppy. With CNBC having all of this impending market correction conversation, when ever I make a small profit on a stock, I take it, because, and this past week "bears" this out, I would have lost the profit and then some. Or, in the case of NYX, I saved myself from a relatively large loss (for me). Still, in the long term, I believe that NYX will be an amazing company. I guess I just want to make as much money, safely, with the money I have, until stocks like NYX or MRVL look like their turn has come.
Not_Bill_Oneil
18 years ago
Just a follow-up...
regarding the comment on NYX and ICE. Just because ICE is stronger here, doesn't mean I'm buying it right now.
I had some stock and calls in ICE last fall and cashed out around the end of the year. Wanted back in during the new year, however, it took off on 1/3/07 and never looked back. Since it never came close to my first bid which was nearer to 100 and never came back to a proper (and safer) buy point closer to it's 50, I've watched it run another 40pts without me.
Just think it's still safer to wait for a better buy setup and not chase it even though it is a leader. Missing runs like that is tough, but, it usually pays to follow your rules, and have all things in your corner. You will always have risk, but, I like having higher odds in my favor. Anyway, still probably going to hold some NYX.
It's late, but, I'm going to try to listen to the entire APKT call tonight still - it acted well today, so I'd like to hear what they said. I also liked a lot of that BRCM call - and think 2008 and 09 is going to be really strong for them - however, going to have to spend a little more time (on both of these calls and some others), to get a better feel how 07 is going to be (for BRCM). Want to see esp. how their "enterprise networking" portion of sales/orders is growing, as well as mobile.
GL tomorrow.
Not_Bill_Oneil
18 years ago
I don't like making predictions...
as it's just easier to watch the price and volume of stocks (and the market) and just go with the leaders (of the trend). One thing I would recommend again is to study those growth estimates (hint: Daily Graphs by IBD also gives some simple and useful data on estimates to quickly follow). This is another window (along with your other DD including conference calls) into determining and following leading companies and anticipating where possible inefficiencies might be in the market.
Re: NYX, it's under the 50sma and it dropped under it on volume - that's a warning. It's still a good stock with good fundamentals, with lots of new things happening. However, right now ICE is still the real exchange/group leader.
And besides stock, sector, and market action, watch other economic indicators and trends. Since the market is forward looking, just look for general trends and cycles. One issue that I think is going to be a market factor is what the Fed may do later this year. So, for example today, the poor financial news this morning from HSBC regarding the sub-prime market can viewed from another angle as another indicator about what the Fed might do later (maybe even sooner than later).
And I always just trust what I see as well - 'cause I'm always out looking. Again, re the HSBC news, I've been watching what's been happening in the real estate market and in this case for instance, I had some anecdotal evidence as well. We moved last fall, and the movers damaged my desk. So, I've been out looking for a good deal on a new set on Craigslist. Every nice executive set I went to see the past 6 weeks were at smaller sub-prime shops in Southern Cal finally closing up shop - and offering fire-sale prices on all their furniture (I just like a good deal on anything I buy). Practice what to constantly look for and trust what you see, and you can stay out ahead of the news headlines (and more importantly not be mislead by some of them) and at least be prepared for and anticipate general trends (and hopefully protect assets and/or make money).
GL & GT.