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Technology Stocks : Newbridge Networks -- Ignore unavailable to you. Want to Upgrade?

To: Glenn McDougall who wrote (8134)	12/1/1998 8:00:00 AM
From: Glenn McDougall	Read Replies (1) \| Respond to of 18016

Cisco Insiders Cash Out By Kevin Petrie Staff Reporter Some Cisco (CSCO:Nasdaq) bigwigs are opening their Christmas presents early. Three executives at the premier Internet network supplier have filed to sell 270,000 shares worth $19 million, according to recent filings with the Securities and Exchange Commission. These three insiders have sold batches of stock in prior quarters. That comes just days after two other executives filed to sell about 170,000 shares for $11.7 million. Cisco representatives did not return a call seeking comment. After snapping back 76% off an early October low, and doubling for the year, Cisco shares, at record-high levels, are trading at 80 times earnings for the past four quarters. Perhaps on the news of insider selling, Cisco traded 4 1/2 lower at 75 9/16 Monday in relatively active trading. But there are still plenty of bulls out there. Jeff Parker, an assistant portfolio manager with Eagle Asset Management, thinks the stock's run will continue. "I would not be a seller here," Parker says. Cisco constitutes the largest position in his portfolio. Parker believes that Cisco's executives are taking some profits rather than sounding an alarm. Parker prefers to look at insider buying instead of insider selling as an indicator of a company's fortunes. In this case, the signs are not clearly positive or negative: In the past six months, most insiders have bought simply to exercise options, often at discount prices. Insider selling often falls in a narrow time frame. Vice President Mario Mazzola intends to sell 150,000 shares worth $10.8 million, according to a document filed Nov. 25 with the SEC. On Aug. 24, Mazzola had sold about 25,000 shares, according to Baseline. Edward Kozel, a director and senior vice president, will divest himself of 20,000 shares for $1.4 million, compared with a hefty sale of 196,000 shares on Aug. 18. Carl Redfield, also a vice president, will sell 97,900 shares worth $6.7 million, compared with a small chunk of 9,300 shares that he dished out Aug. 18. At these levels, they can all afford their personal Furby.