Decker Make Big Bet On Yahoo Stock
A three-year low in the company’s stock price may have been too tempting for Yahoo president Susan Decker to let slip by without taking a chance on it.
It’s been over four years since a Yahoo insider put some cash down on share of the portal company. Decker swooped in right after Yahoo shares scraped a low of $22.44, paying a little more than that per share to take a new $1.1 million stake in Yahoo.
Her buy came a day after ex-CEO Terry Semel dumped thousands of Yahoo shares. Semel exercised options to buy 183,334 shares at $8.23 each, which he then sold for between $22.94 and $23.57 per share.
A Form 8-K filing with the SEC showed Decker purchased 47,000 shares of Yahoo, at prices between $23.40 and $23.68 per share, on August 7th and 8th.
It’s a rare vote of confidence for Yahoo from an insider. A Reuters report about Decker’s buy said it was just the fourth insider purchase in over four years, as well as the largest such buy in that time.