Why Are Autodesk Insiders Selling Millions Before Inforbix Acquisition?
Autodesk, Inc. (NASDAQ:ADSK), one of the foremost 3D design, engineering and entertainment software companies in the world, announced August 28 that it had continued its strategic investment of product lifecycle management (PLM).
This, coupled with the acquisition of assets from cloud software company Inforbix LLC, whet the appetite of investors, reflected in a slight rise in the company's stock.
Although the specific terms of the deal were not made public, Autodesk did announce that it had appointed Oleg Shilovitsky - former co founder of Inforbix - as senior director of PLM
"Oleg Shilovitsky is an established PLM thought leader who brings deep industry experience and a history of innovation to his new role at Autodesk," said Buzz Kross, senior vice president of design, lifecycle and simulation at Autodesk.
However, it doesn't appear executives at Autodesk shares the same sentiment toward the corporate adjustments as investors did. In the last three months, company insiders have sold $1.66 million in shares, which ranged in price from $32.03 to $34.04 each.
Why do you think company officials are performing so many insider transactions amid an apparent strong quarter?
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