Tuesday, 26 October 2010

Did You Double Your Money With Ancestry?

ACOM, the stock of Ancestry.com, which started trading in November 2009 at an issue price of $13.50, hit $25.74 yesterday, October 25.  For a short while after it was listed the stock traded down, as low as $12.80 on November 30. Had you, or I, purchased at that time we would now have doubled our investment.

Some company Insiders are now taking profits.Most recently Joshua Hannah exercised options on 18 October for 27,500 shares which he acquired at $4.60 per share and sold at $24.59. That's a tidy $550,000 profit. It came on top of a $960,000 profit he made on another option transaction three days earlier.

Other insiders have made similar transactions to the point that now fully half the insiders listed own no shares in the company. They may have an interest through further options they own.

1 comment:

Randy Seaver said...

Thanks for the information. It seems I'm always a year late and dollars short on investments!

It's a pretty good time to sell almost anything bought one year ago - the NYSE may go into the tank if the US income tax rates don't continue at present levels, or if major new taxes are added. Or if we have major inflation due to the borrowing needed to finance the deficit.