Insider Trading Shows Mixed Signals for Acme Packet Stock
Acme Packet, Inc. (NASDAQ:APKT), a global leader in session delivery networks, recently announced it had been selected by IBBS to perform its voice service infrastructure upgrade.
While being selected for such a job would typically be a boon for the company - and there is still the chance it will be - the insider trading activity swirling around the Acme prior to the announcement suggests mixed feelings about the future of the company's stock.
Acme's Net-Net Session Director will help IBBS boost security, availability and scalability of its wholesale residential division by seamlessly integrating with existing voice infrastructure technologies.
"Service agility and reliability are paramount in the wholesale voice services market," said Mark Hayes, vice president of CLEC operations at IBBS.
Despite the good news, insider trading remains mixed. James Hourihan, senior vice president of corporate strategy, recently exercised his market option for 60,000 shares valued at $0.52 each, then sold those shares for $15.95 for a total of $318,970.
This, however, was countered by director David Elsbree, who purchased 9,500 shares for $16.90 each.
Why do you think these officials' insider trading activity is split?
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