Apollo Global Management Partner & Chief Legal Officer Whitney Chatterjee Sells 30% Of Holding
Some Apollo Global Management, Inc. (NYSE:APO) shareholders may be a little concerned to see that the Partner & Chief Legal Officer, Whitney Chatterjee, recently sold a substantial US$1.2m worth of stock at a price of US$146 per share. That's a big disposal, and it decreased their holding size by 30%, which is notable but not too bad.
The Last 12 Months Of Insider Transactions At Apollo Global Management
In the last twelve months, the biggest single sale by an insider was when the insider, Leon Black, sold US$123m worth of shares at a price of US$134 per share. That means that even when the share price was below the current price of US$148, an insider wanted to cash in some shares. When an insider sells below the current price, it suggests that they considered that lower price to be fair. That makes us wonder what they think of the (higher) recent valuation. However, while insider selling is sometimes discouraging, it's only a weak signal. It is worth noting that this sale was only 2.3% of Leon Black's holding.
In total, Apollo Global Management insiders sold more than they bought over the last year. The chart below shows insider transactions (by companies and individuals) over the last year. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
View our latest analysis for Apollo Global Management
If you like to buy stocks that insiders are buying, rather than selling, then you might just love this free list of companies. (Hint: Most of them are flying under the radar).
Does Apollo Global Management Boast High Insider Ownership?
For a common shareholder, it is worth checking how many shares are held by company insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. Apollo Global Management insiders own 20% of the company, currently worth about US$17b based on the recent share price. I like to see this level of insider ownership, because it increases the chances that management are thinking about the best interests of shareholders.
So What Do The Apollo Global Management Insider Transactions Indicate?
Insiders sold stock recently, but they haven't been buying. Despite some insider buying, the longer term picture doesn't make us feel much more positive. While insiders do own a lot of shares in the company (which is good), our analysis of their transactions doesn't make us feel confident about the company. Of course, the future is what matters most. So if you are interested in Apollo Global Management, you should check out this free report on analyst forecasts for the company.
Of course Apollo Global Management may not be the best stock to buy. So you may wish to see this free collection of high quality companies.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.