TOL Executives Selling Stock At High Clip

March 2, 2005 11:54 AM EST

Toll Brothers Inc (NYSE: TOL) Director, Bruce Toll, just reported a 500,000 share sale of the stock. This comes on the heels of other large insider block sales over the past few days. Since 02/28 we are seeing insider sales from various executives of about 1.9 million shares reported with the SEC. There was also a flurry of insider selling in the stock in mid-December, to the tune of another 2 million shares or so. There are a total of 76.6 million shares outstanding in the stock. So, the sales since December represent more than 5% of the shares outstanding. Simple diversification? - I think not.

Are these insider sales a signal of a top in the stock? Or are they an even greater signal, indicating that the housing bubble will burst? Maybe - Maybe not. When director Bruce Toll was selling large blocks of the stock back in mid-2003 the stock was in the low-$30s --- now the stock is trading at $88.66/share. (I’ll bet he wishes he had that stock back). But nonetheless, the recent insider sales are intriguing and caught our attention.

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