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CEO Slashes Napco Security Technologies Stake
ADTADT(US:ADT) 24/7 Wall Streetยท2024-02-14 13:10

Core Insights - The CEO of Napco Security Technologies, Richard Soloway, has significantly reduced his stake in the company, selling over 3.5 million shares, which is nearly 49.14% of his holdings [6][4]. - Despite the CEO's sell-off, the company's stock has shown resilience, recovering from a rough patch and reaching an all-time high above $46 per share [6][4]. Company Overview - Napco Security Technologies develops, manufactures, and sells electronic security products, including access control systems, door-locking products, intrusion and fire alarm systems, and video surveillance systems [3]. - The company serves various sectors, including commercial, residential, institutional, industrial, and governmental applications, and markets its products through independent distributors and dealers [3]. - Founded in 1969 and headquartered in Amityville, New York, Napco Security has a market capitalization of over $1.6 billion and reported revenues of nearly $172.2 million [3]. Stock Performance - The stock price has increased approximately 42% over the past year, outperforming the S&P 500, which is up around 22% in the same period [3]. - Year-to-date, the shares have risen more than 31% [3]. Insider Trading Activity - Soloway's current ownership stands at nearly 3.7 million shares, valued at over $127.6 million, reflecting a reduction of almost 40% in value from his previous stake [6]. - The CFO, Kevin Buchel, holds about 0.3% of shares outstanding, worth nearly $4.1 million, indicating some level of insider investment remains [6].